# Stimulus moves help yuan strengthen near 7 against dollar - People's Daily Online

> The offshore yuan strengthened 0.5% to 7.0627 per dollar as new stimulus measures raised the appeal of yuan-denominated assets. China's foreign exchange reserves rose to $3.32 trillion at the end of September, helped by a weaker US dollar index.

- Date: 2024-10-08 · published 2024-10-08T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/11038-stimulus-moves-help-yuan-strengthen-near-7-against-dollar-people-s-daily-online
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

Stronger yuan and rising reserves signal improved confidence in China's economy, which can support demand for imported feed commodities over time. The direct price impact on grains is limited.

## Read by commodity

- USDCNY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2017-09-08 | [Chinese yuan strengthens to near 16-month high against USD - People's Daily Online](https://feedsoft.ai/events/7803-chinese-yuan-strengthens-to-near-16-month-high-against-usd-people-s-daily-online.md) | +1.1% | +2.6% |
| USDCNY | 2017-08-10 | [China’s yuan strengthens to 10-month high against US dollar](https://feedsoft.ai/events/69675-china-s-yuan-strengthens-to-10-month-high-against-us-dollar.md) | +0.3% | -2.8% |
| USDCNY | 2017-08-31 | [Chinese yuan continues to climb against USD - People's Daily Online](https://feedsoft.ai/events/69673-chinese-yuan-continues-to-climb-against-usd-people-s-daily-online.md) | -1.7% | +1.0% |
| USDCNY | 2018-02-08 | [Chinese yuan strengthens to new high against USD - Chinadaily.com.cn](https://feedsoft.ai/events/7105-chinese-yuan-strengthens-to-new-high-against-usd-chinadaily-com-cn.md) | +1.3% | +1.2% |
| USDCNY | 2024-09-25 | [Chinese yuan hits strongest level against dollar in over 16 months as investors assess PBOC stimulus](https://feedsoft.ai/events/28553-chinese-yuan-hits-strongest-level-against-dollar-in-over-16-months-as-investors.md) | -0.2% | +1.3% |

## Sources

- en.people.cn: https://en.people.cn/n3/2024/1008/c90000-20226616.html

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