# Yuan steadies at 3-1/2-mth low on firmer-than-expected fix, tighter offshore conditions - Markets - Business Recorder

> The yuan steadied at a 3.5-month low on Tuesday after the PBOC set a firmer-than-expected midpoint fix of 7.1911 per dollar. Tighter cash conditions offshore also helped limit selling. The currency has fallen about 1.8% since the US election on expectations of higher tariffs.

- Date: 2024-11-19 · published 2024-11-19T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/27631-yuan-steadies-at-3-1-2-mth-low-on-firmer-than-expected-fix-tighter-offshore
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

Official support for the yuan limits the currency's decline, which helps keep Chinese import costs from rising sharply. The tariff expectations behind the yuan weakness remain a bearish risk for US feed trade.

## Read by commodity

- USDCNY: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2024-01-22 | [China’s yuan holds steady on unchanged lending rates; offshore yuan liquidity tight - Markets - Business Recorder](https://feedsoft.ai/events/32359-china-s-yuan-holds-steady-on-unchanged-lending-rates-offshore-yuan-liquidity.md) | -0.2% | -0.0% |
| USDCNY | 2023-02-01 | [China’s yuan steadies ahead of Fed decision - Markets - Business Recorder](https://feedsoft.ai/events/37554-china-s-yuan-steadies-ahead-of-fed-decision-markets-business-recorder.md) | +0.5% | +1.7% |
| USDCNY | 2023-09-22 | [China’s yuan bounces on state bank support, offshore tightness - Markets - Business Recorder](https://feedsoft.ai/events/34329-china-s-yuan-bounces-on-state-bank-support-offshore-tightness-markets-business.md) | -0.1% | +0.1% |
| USDCNY | 2026-04-28 | [China's yuan steady as traders await Fed meet - Markets - Business Recorder](https://feedsoft.ai/events/19949-china-s-yuan-steady-as-traders-await-fed-meet-markets-business-recorder.md) | +0.1% | -0.5% |
| USDCNY | 2021-10-22 | [China's yuan eases after regulator warn of possible actions to counter higher fluctuations - Markets - Business Recorder](https://feedsoft.ai/events/44778-china-s-yuan-eases-after-regulator-warn-of-possible-actions-to-counter-higher.md) | -0.0% | -0.1% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40333284

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