# China central bank boosts offshore bill sales to stabilise yuan, says ex-official

> The PBOC increased yuan bill sales in Hong Kong during the week of August 24, tightening offshore liquidity. The move aimed to make shorting the yuan expensive, according to a former central banker.

- Date: 2023-08-24 · published 2023-08-24T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/34802-china-central-bank-boosts-offshore-bill-sales-to-stabilise-yuan-says-ex-official
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

Tighter offshore liquidity supports the yuan, which can make Chinese feed imports cheaper in local currency and sustain demand for US commodities.

## Read by commodity

- USDCNY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2025-01-10 | [China's central bank halts bond buying as yuan struggles](https://feedsoft.ai/events/26717-china-s-central-bank-halts-bond-buying-as-yuan-struggles.md) | -0.0% | -0.5% |
| USDCNY | 2024-01-05 | [Exclusive: China's state banks act to stem yuan slide onshore and offshore -sources](https://feedsoft.ai/events/32357-exclusive-china-s-state-banks-act-to-stem-yuan-slide-onshore-and-offshore.md) | +0.1% | +0.5% |
| USDCNY | 2023-07-20 | [Exclusive: China's state banks selling dollars offshore to slow yuan declines, sources say](https://feedsoft.ai/events/35258-exclusive-china-s-state-banks-selling-dollars-offshore-to-slow-yuan-declines.md) | -1.0% | +1.0% |
| USDCNY | 2018-03-27 | [China’s Central Bank Sends Yuan Surging](https://feedsoft.ai/events/66212-china-s-central-bank-sends-yuan-surging.md) | +0.2% | +0.8% |
| USDCNY | 2018-08-24 | [China central bank adjusts yuan fix factors to keep FX market stable \| Reuters](https://feedsoft.ai/events/63740-china-central-bank-adjusts-yuan-fix-factors-to-keep-fx-market-stable-reuters.md) | -0.5% | -0.3% |

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/china-central-bank-boosts-offshore-bill-sales-stabilise-yuan-says-ex-official-2023-08-24/

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