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China Is Said to Change Way It Manages the Yuan

Move shows China's confidence in the currency's recent gains, analysts say.

By Bloomberg News | Updated on January 09, 2018

China’s central bank has made a change to the regime used to manage the yuan, effectively removing a component used by banks to calculate their submissions to the currency’s daily reference rate, according to people familiar with the matter.

The People’s Bank of China recently told some lenders that contribute to the rate—known as the fixing—to adjust their use of the “countercyclical factor” in such a way that it would have no impact on the mechanism, said the people, who asked not to be identified as the details are private. They said the change has already taken effect.

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