# Renminbi rises strongly against US dollar - Chinadaily.com.cn

> The PBOC raised the yuan's central parity to 6.6102 per dollar, its strongest level since mid-August 2016, with the fixing 191 basis points higher than the previous day. The yuan has gained about 5% against the dollar this year and reached a 14-month high offshore. Analysts expect gains to slow if the dollar rebounds.

- Date: 2017-08-30 · published 2017-08-30T12:00:00.000Z
- Category: policy · region China · magnitude low
- Page: https://feedsoft.ai/events/10861-renminbi-rises-strongly-against-us-dollar-chinadaily-com-cn
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A firmer yuan reduces China's dollar cost of imported feed ingredients, which can support import demand. The gain depends on dollar weakness, so a dollar rebound would limit the effect.

## Read by commodity

- DXY: bearish ▼
- USDCNY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2025-02-21 | [China’s central bank vows to enhance yuan amid looming risks from strong US dollar \| South China Morning Post](https://feedsoft.ai/events/26298-china-s-central-bank-vows-to-enhance-yuan-amid-looming-risks-from-strong-us.md) | +0.4% | -0.1% |
| USDCNY | 2022-09-07 | [China Sets Yuan CNY USD Fix at 6.916 Per Dollar, Strongest Bias on Record - Bloomberg](https://feedsoft.ai/events/12269-china-sets-yuan-cny-usd-fix-at-6-916-per-dollar-strongest-bias-on-record.md) | -0.4% | +2.3% |
| USDCNY | 2024-12-19 | [China's central bank offers strongest yuan support since July after dollar gains](https://feedsoft.ai/events/27167-china-s-central-bank-offers-strongest-yuan-support-since-july-after-dollar-gains.md) | +0.2% | +0.5% |
| USDCNY | 2017-05-31 | [Yuan surges to 7-month high against US dollar - Gulf Times](https://feedsoft.ai/events/8837-yuan-surges-to-7-month-high-against-us-dollar-gulf-times.md) | -0.2% | -0.2% |
| USDCNY | 2023-07-20 | [Yuan rebounds on corp debt quota easing - Chinadaily.com.cn](https://feedsoft.ai/events/35260-yuan-rebounds-on-corp-debt-quota-easing-chinadaily-com-cn.md) | -1.0% | +1.0% |
| DXY | 2017-08-30 | [China Sets Yuan Midpoint Against Dollar at One-Year High   - Caixin Global](https://feedsoft.ai/events/10857-china-sets-yuan-midpoint-against-dollar-at-one-year-high-caixin-global.md) | -0.6% | +0.9% |
| DXY | 2020-08-27 | [The Mexican peso loses 24 cents against the dollar - Opportimes](https://feedsoft.ai/events/51833-the-mexican-peso-loses-24-cents-against-the-dollar-opportimes.md) | -0.5% | +0.8% |
| DXY | 2018-02-01 | [U.S. Trade Policy & the Dollar](https://feedsoft.ai/events/12006-u-s-trade-policy-and-the-dollar.md) | +0.9% | +1.7% |

## Sources

- chinadaily.com.cn: https://www.chinadaily.com.cn/a/201708/31/WS59bb753ba310d4d9ab7e832c.html

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