# China’s yuan poised for best quarter since 2020; state banks try to slow gains - Markets - Business Recorder

> China's yuan eased slightly against the dollar on September 30 but was set for its biggest quarterly gain since 2020. Corporate unwinding of dollar holdings and Beijing's stimulus supported the currency, while state banks bought dollars to slow the gains.

- Date: 2024-09-30 · published 2024-09-30T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/28550-china-s-yuan-poised-for-best-quarter-since-2020-state-banks-try-to-slow-gains
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A firmer yuan lowers the cost of dollar-priced imports for China, which supports feed-demand sentiment, but state intervention limits how far the currency moves.

## Read by commodity

- USDCNY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2021-01-06 | [China's yuan softens as central bank hints at preference for slower gains - Markets - Business Recorder](https://feedsoft.ai/events/12068-china-s-yuan-softens-as-central-bank-hints-at-preference-for-slower-gains.md) | +0.1% | +0.3% |
| USDCNY | 2025-11-28 | [China’s yuan set for longest monthly win streak since 2021 - Markets - Business Recorder](https://feedsoft.ai/events/22171-china-s-yuan-set-for-longest-monthly-win-streak-since-2021-markets-business.md) | -0.1% | -1.0% |
| USDCNY | 2023-05-26 | [China’s yuan rebounds after state banks sell dollars to lend support - Markets - Business Recorder](https://feedsoft.ai/events/36177-china-s-yuan-rebounds-after-state-banks-sell-dollars-to-lend-support-markets.md) | +0.1% | +2.2% |
| USDCNY | 2022-09-30 | [Yuan looks to first weekly gain in seven as state banks set to step in - Markets - Business Recorder](https://feedsoft.ai/events/39806-yuan-looks-to-first-weekly-gain-in-seven-as-state-banks-set-to-step-in-markets.md) | -0.1% | +1.8% |
| USDCNY | 2021-07-15 | [China's yuan inches higher, GDP data caps gains - Markets - Business Recorder](https://feedsoft.ai/events/46289-china-s-yuan-inches-higher-gdp-data-caps-gains-markets-business-recorder.md) | -0.0% | +0.1% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40324723

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