# China’s yuan strengthens as trade surplus hits US$72 billion in November amid robust export growth | South China Morning Post

> The yuan strengthened to its firmest level since May 2018, hitting 6.3477 per dollar in late trading. China's November trade surplus reached US$72 billion, with exports up 22% on the year. Foreign reserves rose to US$3.222 trillion at the end of November.

- Date: 2021-12-08 · published 2021-12-08T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/11295-china-s-yuan-strengthens-as-trade-surplus-hits-us-72-billion-in-november-amid
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

Strong export growth and a large surplus point to robust Chinese external demand and currency inflows. Analysts warn that depreciation risks are rising, which could weigh on the yuan and the purchasing power of Chinese feed buyers.

## Read by commodity

- USDCNY: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| USDCNY | 2021-12-09 | 1 | +0.5% | 3.2 | Strong November trade surplus and export growth supported yuan demand and appreciation, contributing to the volatile move around Dec 8-9. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2022-12-05 | [China’s yuan strengthens past 7 per US dollar amid easing of coronavirus curbs \| South China Morning Post](https://feedsoft.ai/events/6581-china-s-yuan-strengthens-past-7-per-us-dollar-amid-easing-of-coronavirus-curbs.md) | -0.9% | -1.5% |
| USDCNY | 2023-01-03 | [Yuan strengthens to a 4-month high on optimism over prospects of China’s post-Covid economic recovery \| South China Morning Post](https://feedsoft.ai/events/12763-yuan-strengthens-to-a-4-month-high-on-optimism-over-prospects-of-china-s-post.md) | -1.8% | -2.1% |
| USDCNY | 2016-06-20 | [Chinese yuan strengthens ahead of Brexit vote \| South China Morning Post](https://feedsoft.ai/events/10880-chinese-yuan-strengthens-ahead-of-brexit-vote-south-china-morning-post.md) | +0.5% | +1.8% |
| USDCNY | 2019-09-26 | [China sells 10 billion yuan of bills in Hong Kong to protect currency ahead of National Day, US trade war talks \| South China Morning Post](https://feedsoft.ai/events/57292-china-sells-10-billion-yuan-of-bills-in-hong-kong-to-protect-currency-ahead-of.md) | +0.2% | -0.9% |
| USDCNY | 2021-02-09 | [Opinion \| Why a stronger yuan is still in China’s best interests \| South China Morning Post](https://feedsoft.ai/events/48873-opinion-why-a-stronger-yuan-is-still-in-china-s-best-interests-south-china.md) | +0.1% | +0.9% |

## Sources

- scmp.com: https://www.scmp.com/economy/china-economy/article/3158892/chinas-yuan-strengthens-trade-surplus-hits-us72-billion

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