# China’s yuan rebounds after state banks sell dollars to lend support - Markets - Business Recorder

> China's yuan rebounded from a near six-month low after major state banks sold dollars in the spot market. The PBOC set a weaker midpoint rate, and traders said the state banks were only slowing the currency's decline. Commerzbank linked the yuan weakness to waning post-reopening recovery.

- Date: 2023-05-26 · published 2023-05-26T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/36177-china-s-yuan-rebounds-after-state-banks-sell-dollars-to-lend-support-markets
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

Official intervention limits near-term yuan volatility, which keeps China's import costs for feed commodities more predictable. Continued yuan weakness would still raise dollar-priced import costs over time.

## Read by commodity

- USDCNY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2026-06-30 | [China yuan firms as exporter dollar sales lend support - Markets - Business Recorder](https://feedsoft.ai/events/19035-china-yuan-firms-as-exporter-dollar-sales-lend-support-markets-business-recorder.md) | -0.0% | -0.3% |
| USDCNY | 2026-08-31 | [China's yuan firms despite dollar rebound - Markets - Business Recorder](https://feedsoft.ai/events/18093-china-s-yuan-firms-despite-dollar-rebound-markets-business-recorder.md) | -0.2% | -0.2% |
| USDCNY | 2026-08-20 | [China's yuan gets stronger after dollar slumps overnight - Markets - Business Recorder](https://feedsoft.ai/events/18097-china-s-yuan-gets-stronger-after-dollar-slumps-overnight-markets-business.md) | -0.1% | -0.3% |
| USDCNY | 2024-10-10 | [China’s yuan inches higher as PBOC support offsets dollar strength - Markets - Business Recorder](https://feedsoft.ai/events/11040-china-s-yuan-inches-higher-as-pboc-support-offsets-dollar-strength-markets.md) | +0.6% | +0.8% |
| USDCNY | 2023-12-06 | [China state banks selling dollars for second day to support yuan - sources](https://feedsoft.ai/events/32921-china-state-banks-selling-dollars-for-second-day-to-support-yuan-sources.md) | +0.4% | +0.2% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40244366

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