# Renminbi on track for stability against USD - Chinadaily.com.cn

> A leading currency expert said the renminbi should remain broadly stable with two-way fluctuations against the dollar in coming months. The offshore renminbi had passed the 7-per-dollar mark in late September after the Fed's rate cut and China's stimulus package.

- Date: 2024-10-07 · published 2024-10-07T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/11043-renminbi-on-track-for-stability-against-usd-chinadaily-com-cn
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A stable yuan limits sudden shifts in the cost of dollar-priced Chinese imports, so it has little direct effect on feed prices. The People's Bank of China is seen as ready to curb overshoots in either direction.

## Read by commodity

- USDCNY: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2023-09-11 | [China issues strong warning against bets on renminbi depreciation](https://feedsoft.ai/events/34332-china-issues-strong-warning-against-bets-on-renminbi-depreciation.md) | -0.9% | -0.6% |
| USDCNY | 2023-05-31 | [Experts: Yuan set to remain largely stable - Chinadaily.com.cn](https://feedsoft.ai/events/36176-experts-yuan-set-to-remain-largely-stable-chinadaily-com-cn.md) | +0.6% | +2.3% |
| USDCNY | 2024-03-27 | [Briefly - Chinadaily.com.cn](https://feedsoft.ai/events/31445-briefly-chinadaily-com-cn.md) | +0.2% | +0.4% |
| USDCNY | 2017-01-18 | [Macroscope \| China still fighting an uphill battle to stabilise renminbi \| South China Morning Post](https://feedsoft.ai/events/11876-macroscope-china-still-fighting-an-uphill-battle-to-stabilise-renminbi-south.md) | +0.4% | +0.2% |
| USDCNY | 2021-04-01 | [China: Revising our USD/CNY forecast](https://feedsoft.ai/events/47813-china-revising-our-usd-cny-forecast.md) | -0.2% | -1.1% |

## Sources

- chinadaily.com.cn: https://www.chinadaily.com.cn/a/202410/08/WS67049cb4a310f1265a1c668d.html

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