# Here Are the Tools That China Uses to Manage the Yuan: QuickTake - Bloomberg

> Bloomberg explains the tools the People's Bank of China uses to manage the yuan, centered on a daily reference rate set at 9:15 a.m. Beijing time, around which the currency can move 2% either way. Fixings far stronger or weaker than market expectations are typically read as policy signals.

- Date: 2024-04-10 · published 2024-04-10T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/30959-here-are-the-tools-that-china-uses-to-manage-the-yuan-quicktake-bloomberg
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

This is background on how Beijing steers the yuan, and it does not itself show a new move, so it has limited direct effect on feed-ingredient prices.

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2018-01-09 | [China Changes the Way It Manages Yuan After Currency's Jump - Bloomberg](https://feedsoft.ai/events/67197-china-changes-the-way-it-manages-yuan-after-currency-s-jump-bloomberg.md) | -0.9% | -3.3% |
| USDCNY | 2024-03-27 | [Watch China's Confusing Signals on the Yuan - Bloomberg](https://feedsoft.ai/events/31442-watch-china-s-confusing-signals-on-the-yuan-bloomberg.md) | +0.2% | +0.4% |
| USDCNY | 2017-11-22 | [China's Banks Are Getting Ready for Bigger Swings in the Yuan - Bloomberg](https://feedsoft.ai/events/68222-china-s-banks-are-getting-ready-for-bigger-swings-in-the-yuan-bloomberg.md) | -0.3% | -0.7% |
| USDCNY | 2022-09-29 | [CNY/USD: Why China’s Yuan Hit Record Lows Against the Dollar - Bloomberg](https://feedsoft.ai/events/7207-cny-usd-why-china-s-yuan-hit-record-lows-against-the-dollar-bloomberg.md) | -1.2% | +0.3% |
| USDCNY | 2019-03-26 | [China's efforts to make Yuan rate more transparent gain momentum – Bloomberg — Octa](https://feedsoft.ai/events/60337-china-s-efforts-to-make-yuan-rate-more-transparent-gain-momentum-bloomberg-octa.md) | +0.0% | +0.0% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2024-04-10/here-are-the-tools-that-china-uses-to-manage-the-yuan-quicktake

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