The People's Bank of China (PBOC) has been actively adjusting the yuan's central parity rate against the US dollar over the past few days. On August 23, 2024, the PBOC set the yuan mid-point at 7.1358 per dollar, which was a reduction of 130 pips, marking the most significant cut since January 3, 2024. This rate was stronger than market expectations, which estimated the rate at 7.1480. Subsequently, on August 26, the PBOC raised the central parity rate by 219 pips to 7.1139 per dollar, the strongest level since July 14, 2023, and 30 pips stronger than market expectations. On August 27, the PBOC set the yuan mid-point at 7.1249 per dollar, slightly weaker than the previous fix of 7.1139. These adjustments indicate the PBOC's efforts to manage the yuan's exchange rate and prevent excessive volatility.