# China Center Chart Dive: RMB devaluation — a guided market correction

> A Conference Board analysis argues that the renminbi's depreciation since late 2015 is a market-driven but government-guided correction after a period of strong appreciation. It notes the RMB weakened 6.8% against the dollar between August 2015 and May 2016, while FX reserves fell by USD 460 billion.

- Date: 2016-06-24 · published 2016-06-24T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/10882-china-center-chart-dive-rmb-devaluation-a-guided-market-correction
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

Continued managed depreciation of the yuan signals ongoing pressure on Chinese import purchasing power, which is a modest headwind for dollar-priced agricultural commodities.

## Read by commodity

- USDCNY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2019-08-05 | [China's central bank denies devaluation is to counter tariffs](https://feedsoft.ai/events/5375-china-s-central-bank-denies-devaluation-is-to-counter-tariffs.md) | +1.8% | +3.1% |
| USDCNY | 2024-10-29 | [How the US election could impact China's markets \| Reuters](https://feedsoft.ai/events/28073-how-the-us-election-could-impact-china-s-markets-reuters.md) | -0.4% | +1.8% |
| USDCNY | 2024-10-21 | [China’s yuan steady after LPR cuts, eyes on US election - Markets - Business Recorder](https://feedsoft.ai/events/28080-china-s-yuan-steady-after-lpr-cuts-eyes-on-us-election-markets-business-recorder.md) | +0.3% | +1.9% |
| USDCNY | 2022-05-03 | [China \| RMB exchange rate sharp depreciation amid diverging monetary policy \| BBVA Research](https://feedsoft.ai/events/8313-china-rmb-exchange-rate-sharp-depreciation-amid-diverging-monetary-policy-bbva.md) | +1.8% | +1.0% |
| USDCNY | 2023-12-11 | [China’s yuan weakens to 3-week low, hurt by deflation signs - Markets - Business Recorder](https://feedsoft.ai/events/6455-china-s-yuan-weakens-to-3-week-low-hurt-by-deflation-signs-markets-business.md) | -0.7% | +0.0% |

## Sources

- conference-board.org: https://www.conference-board.org/publications/China-RMB-Devaluation

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