# USD/CNY: PBOC Gives Strongest Boost to Yuan Since April to Manage Decline - Bloomberg

> The People's Bank of China set its daily yuan reference rate at 7.1196 per dollar, a level slightly weaker than the previous day. The gap between the fixing and market forecasts was the widest since April, signalling Beijing's intent to manage the currency's decline.

- Date: 2024-06-21 · published 2024-06-21T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/30005-usd-cny-pboc-gives-strongest-boost-to-yuan-since-april-to-manage-decline
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A stronger fixing supports the yuan and eases the cost of dollar-priced imports for China, a modest support for Chinese feed demand.

## Read by commodity

- USDCNY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2026-07-30 | [CNY USD: Yuan Rises to Highest Since Early 2023 as Dollar Drops After Fed - Bloomberg](https://feedsoft.ai/events/18568-cny-usd-yuan-rises-to-highest-since-early-2023-as-dollar-drops-after-fed.md) | -0.3% | -0.6% |
| USDCNY | 2021-12-31 | [Chinese Yuan Reaches 3-Year High With PBOC Reluctant for Stronger CNY in 2022 - Bloomberg](https://feedsoft.ai/events/43814-chinese-yuan-reaches-3-year-high-with-pboc-reluctant-for-stronger-cny-in-2022.md) | +0.1% | -0.2% |
| USDCNY | 2017-09-07 | [PBOC Hasn't Embraced Yuan Gains Like This Since the Arab Spring - Bloomberg](https://feedsoft.ai/events/7800-pboc-hasn-t-embraced-yuan-gains-like-this-since-the-arab-spring-bloomberg.md) | +0.3% | +2.0% |
| 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 | 2026-10-01 | [Chinese Yuan Hits Strongest Level Since 2022 After PBOC Fixing](https://feedsoft.ai/events/17682-chinese-yuan-hits-strongest-level-since-2022-after-pboc-fixing.md) | -0.0% | -0.7% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2024-06-21/pboc-gives-strongest-boost-to-yuan-via-fixing-since-april-lxo074ip

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