# China's yuan surges to 16-month peak on new stimulus measures

> China's yuan hit a 16-month high against the dollar on September 24 after the central bank announced stimulus, including a planned 50 basis point cut to reserve requirement ratios and easier mortgage repayments. The yuan strengthened 0.65% to 7.017 per dollar.

- Date: 2024-09-24 · published 2024-09-24T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/28554-china-s-yuan-surges-to-16-month-peak-on-new-stimulus-measures
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md), [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

The yuan's rise follows new liquidity measures that could support Chinese demand for imports, though the currency move on its own has a limited direct effect on feed prices.

## Read by commodity

- USDCNY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2023-12-29 | [China's Yuan Surges to Seven-Month High: 2024 Outlook](https://feedsoft.ai/events/11842-china-s-yuan-surges-to-seven-month-high-2024-outlook.md) | +0.5% | +1.0% |
| USDCNY | 2018-11-09 | [Timeline of China's recent measures to stabilise yuan near key level](https://feedsoft.ai/events/62263-timeline-of-china-s-recent-measures-to-stabilise-yuan-near-key-level.md) | +0.1% | -0.5% |
| USDCNY | 2025-09-25 | [China's yuan surges to 10-month high against dollar as US tensions ease - Nikkei Asia](https://feedsoft.ai/events/23112-china-s-yuan-surges-to-10-month-high-against-dollar-as-us-tensions-ease-nikkei.md) | -0.2% | -0.1% |
| USDCNY | 2024-09-25 | [CNY USD: Yuan Rallies Past 7 Per Dollar After China Stimulus Measures - Bloomberg](https://feedsoft.ai/events/28551-cny-usd-yuan-rallies-past-7-per-dollar-after-china-stimulus-measures-bloomberg.md) | -0.2% | +1.3% |
| USDCNY | 2023-06-29 | [Policy measures China's central bank could use to stem yuan weakness](https://feedsoft.ai/events/35711-policy-measures-china-s-central-bank-could-use-to-stem-yuan-weakness.md) | +0.1% | -1.0% |

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/aussie-dlr-near-2024-high-before-rba-yen-drifts-ueda-awaited-2024-09-24/

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