On January 13, 2025, China took significant measures to bolster the yuan following a surge in the dollar that brought the currency close to a record low in offshore trading. The People's Bank of China announced a series of interventions aimed at stabilizing the yuan.
The central bank, along with other regulators, will intensify its oversight of the foreign-exchange market. They plan to address any activities that may disrupt market stability and mitigate the risks associated with an excessive depreciation of the yuan. The authorities emphasized their commitment to maintaining the currency at reasonable and stable levels.