# China renminbi exchange rate policy dispute

> Live situation record from CLSTR: https://clstr.news/situations/china-renminbi-exchange-rate-policy-dispute
> Updated: 2026-10-12T00:25:48.000Z. Sources: 7. Developments: 2.

The People’s Bank of China (PBOC) has defended its renminbi exchange rate policy against international criticism, particularly from European policymakers who suggest the currency is undervalued to provide trade advantages. The PBOC asserted that China has “no intention of using currency depreciation to gain trade advantages,” attributing global economic imbalances to structural issues and fiscal deficits rather than unilateral manipulation.

Following these policy statements, the renminbi showed modest strength against both the US dollar and the euro. The PBOC set a USD/CNY fixing that was stronger than market estimates, signaling an intent to limit depreciation pressures. This movement occurred despite ongoing pressure from European officials regarding China’s trade surplus and exchange-rate practices.

## Timeline

### 2026-10-12: Renminbi strengthens as PBOC signals resistance to depreciation

The Chinese renminbi has strengthened against the US dollar and euro as the PBOC sets stronger-than-expected fixings, amid European concerns regarding China's trade surplus and exchange-rate policy.

2 sources. https://clstr.news/cluster/renminbi-strengthens-as-pboc-signals-resistance-to-depreciation

### 2026-10-08: People's Bank of China defends renminbi exchange rate policy

The People's Bank of China defended its renminbi policy, stating it does not use currency depreciation for trade advantages amid ongoing trade tensions and undervaluation claims from the European Union.

5 sources. https://clstr.news/cluster/peoples-bank-of-china-defends-renminbi-exchange-rate-policy

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Cite as: China renminbi exchange rate policy dispute. CLSTR, https://clstr.news/situations/china-renminbi-exchange-rate-policy-dispute