# GMT EIGHT - Latest - China Foreign Exchange Trade System: In September, the offshore (CNH) RMB spot exchange rate appreciated against the US dollar, and the onshore (CNY) RMB spot exchange rate appreciated against the US dollar.

> The China Foreign Exchange Trade System reported that in September both the offshore CNH and onshore CNY renminbi appreciated against the US dollar. The CFETS and BIS-basket indices rose by about 1.3 to 1.4 per cent over the month.

- Date: 2026-10-31 · published 2026-10-31T10:06:03.300Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/3031-gmt-eight-latest-china-foreign-exchange-trade-system-in-september-the-offshore
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A firmer renminbi lowers China's cost of dollar-priced imports, which modestly supports Chinese demand for US and Brazilian feed commodities.

## Read by commodity

- USDCNY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2017-01-05 | [China’s offshore yuan surges most against dollar in a year](https://feedsoft.ai/events/73180-china-s-offshore-yuan-surges-most-against-dollar-in-a-year.md) | +0.1% | -1.0% |
| USDCNY | 2023-11-22 | [Offshore Chinese Yuan Gains Over 1,600 Pips Against US Dollar in Past Week](https://feedsoft.ai/events/33394-offshore-chinese-yuan-gains-over-1-600-pips-against-us-dollar-in-past-week.md) | -0.1% | +0.0% |
| USDCNY | 2018-02-23 | [Chinese yuan against the dollar: China currency appreciation](https://feedsoft.ai/events/66714-chinese-yuan-against-the-dollar-china-currency-appreciation.md) | +0.1% | -0.3% |
| USDCNY | 2017-01-05 | [China's Offshore Yuan is Bossing the US Dollar Around Today](https://feedsoft.ai/events/10253-china-s-offshore-yuan-is-bossing-the-us-dollar-around-today.md) | +0.1% | -1.0% |
| USDCNY | 2022-10-26 | [CNY/USD: Offshore Yuan Rises Most on Record as China Banks Sell Dollars - Bloomberg](https://feedsoft.ai/events/39355-cny-usd-offshore-yuan-rises-most-on-record-as-china-banks-sell-dollars-bloomberg.md) | +0.1% | -1.5% |

## Sources

- gmt8press.com: https://www.gmt8press.com/flash/detail/1550994

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