# Yuan bounces from 5-month low after PBOC pledges to keep market stable | Financial Post

> The yuan bounced from a five-month low against the dollar after the PBOC pledged to prevent large currency fluctuations. Major state banks had been swapping yuan for dollars to manage the decline, and traders expect the currency to stay weak near the 7-per-dollar level. Seasonal dividend payments were noted as a source of dollar demand.

- Date: 2023-05-22 · published 2023-05-22T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/36180-yuan-bounces-from-5-month-low-after-pboc-pledges-to-keep-market-stable
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

Central bank action to slow yuan depreciation reduces the risk of a sudden spike in China's dollar-denominated import costs. Feed buyers should still expect the yuan to remain on the weaker side in the near term.

## Read by commodity

- USDCNY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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% |
| USDCNY | 2019-12-26 | [China lifts yuan midpoint to strongest in 4-1/2 months \| Financial Post](https://feedsoft.ai/events/55801-china-lifts-yuan-midpoint-to-strongest-in-4-1-2-months-financial-post.md) | -0.6% | -1.3% |
| USDCNY | 2025-07-31 | [China's yuan bounces from two-month low on stronger central bank guidance — TradingView News](https://feedsoft.ai/events/23989-china-s-yuan-bounces-from-two-month-low-on-stronger-central-bank-guidance.md) | -0.2% | -0.6% |
| USDCNY | 2019-11-06 | [China sets yuan midpoint at three-month high \| Financial Post](https://feedsoft.ai/events/56292-china-sets-yuan-midpoint-at-three-month-high-financial-post.md) | +0.2% | +0.5% |
| USDCNY | 2026-01-28 | [Yuan hits fresh 32-month high as dollar tumbles, PBOC boosts guidance \| MarketScreener](https://feedsoft.ai/events/21277-yuan-hits-fresh-32-month-high-as-dollar-tumbles-pboc-boosts-guidance.md) | -0.2% | -1.2% |

## Sources

- financialpost.com: https://financialpost.com/pmn/business-pmn/yuan-bounces-from-5-month-low-after-pboc-pledges-to-keep-market-stable-2

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