22.06.202602:44:13UTC+00Offshore Yuan Rebounds

The offshore yuan inched higher to around 6.77 per dollar on Monday, paring losses from the previous session as broader market sentiment improved on signs of progress in US-Iran talks and as investors weighed the People’s Bank of China’s decision to keep key lending rates unchanged. The PBoC left the one-year loan prime rate (LPR) at 3.0% and the five-year LPR at 3.5% for a thirteenth straight month, highlighting policymakers’ cautious stance as they aim to support growth while preserving financial stability. China’s economic recovery remains uneven: resilient exports continue to underpin activity, but domestic consumption and the property sector are still subdued. At the same time, the US and Iran reported constructive progress in negotiations to ease regional tensions, agreeing on a roadmap toward a potential final agreement within 60 days and on establishing a direct communication channel to help reduce the risk of incidents and miscalculations.