# China steps in to stem yuan slide, shore up confidence | Reuters

> The Chinese yuan has fallen about 4% against the dollar over two months as weak consumer confidence and a sluggish property market eroded the post-pandemic recovery. China then stepped in and the yuan rose about 0.4% on Tuesday, its best gain in almost two weeks.

- Date: 2023-06-27 · published 2023-06-27T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/10488-china-steps-in-to-stem-yuan-slide-shore-up-confidence-reuters
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

Beijing's intervention to stabilise the yuan reduces near-term pressure on Asian currencies and eases fears of a sharper slowdown in Chinese feed demand, but the underlying growth weakness persists.

## Read by commodity

- USDCNY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2023-08-21 | [EXCLUSIVE: China state banks seen mopping up offshore yuan to stem currency weakness \| Reuters](https://feedsoft.ai/events/34803-exclusive-china-state-banks-seen-mopping-up-offshore-yuan-to-stem-currency.md) | +0.1% | +0.2% |
| USDCNY | 2019-08-27 | [China economy: PBOC could be trying to shore up the yuan (RMB)](https://feedsoft.ai/events/57792-china-economy-pboc-could-be-trying-to-shore-up-the-yuan-rmb.md) | +0.4% | -0.5% |
| USDCNY | 2025-09-03 | [China uses yuan as olive branch in US trade talks \| Reuters](https://feedsoft.ai/events/23113-china-uses-yuan-as-olive-branch-in-us-trade-talks-reuters.md) | -0.3% | -0.3% |
| USDCNY | 2024-01-05 | [Exclusive: China's state banks act to stem yuan slide onshore and offshore -sources](https://feedsoft.ai/events/32357-exclusive-china-s-state-banks-act-to-stem-yuan-slide-onshore-and-offshore.md) | +0.1% | +0.5% |
| USDCNY | 2021-10-19 | [China's yuan jumps to 4-month high as property concerns ebb \| Reuters](https://feedsoft.ai/events/7481-china-s-yuan-jumps-to-4-month-high-as-property-concerns-ebb-reuters.md) | -0.7% | -0.6% |

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/chinas-state-banks-seen-selling-dollars-offshore-slow-yuan-drop-sources-2023-06-27/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.