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The People's Bank of China set the yuan central parity at 6.9262 per US dollar on January 9, a weakening of 594 basis points. It was the biggest daily percentage fall since June 2016.
Analysts said the move reflected the central bank's intention to reverse unilateral devaluation.
A sharp official fix lower reflects policy intervention that can change the cost of dollar-priced imports for Chinese feed buyers. The move signals a deliberate shift in exchange-rate management rather than routine drift.
voanews.comSaibal DasguptaJan 9, 2017
xinhuanet.comJan 9, 2017After 31 past bullish policy events, Chinese Yuan (CNY per USD) moved a median -0.2% over 5 sessions (42% higher; middle half -0.4% to +0.3%), and -0.1% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
