The People’s Bank of China (PBOC) has set the onshore USD/CNY midpoint at 7.0796 on November 26, 2025, marking the strongest level since October 14, 2024. This fix surpasses the market's model estimate of 7.0825 and the previous onshore close of 7.0845. Additionally, the PBOC injected CNY 213.3 billion through seven-day reverse repos at a rate of 1.40% to bolster liquidity and stabilize short-term interest rates. This move underscores the central bank's commitment to curbing USD strength against the yuan and managing foreign exchange volatility.