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2026.04.2702:38:59UTC+00Offshore Yuan Remains Near 2023 Highs

The offshore yuan inched higher to around 6.82 per dollar on Monday, hovering near its strongest level since February 2023, supported by solid economic data. China’s industrial profits jumped 15.5% year-on-year in Q1 2026, up from 15.2% in the January–February period. This acceleration underscores the resilience of the country’s industrial base, even as tensions in the Middle East continue to cloud the global outlook. In a related geopolitical development, Iran has reportedly submitted a new proposal to the US aimed at reopening the Strait of Hormuz and de-escalating the conflict. Despite ongoing uncertainty, domestic producer prices are showing tentative signs of recovery after more than three years of deflation, helping to relieve pressure on industrial firms facing higher input costs linked to the conflict. China’s industrial sector remains a cornerstone of its post-pandemic recovery, bolstered by resilient export performance.

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