# PBOC Ends Stronger-Than-Expected Yuan Fixings Amid Covid Bets - Caixin Global

> China's central bank set the yuan fixing at 7.2292 per dollar, weaker than the 7.2287 analyst estimate, ending a 47-session run of stronger-than-expected fixings. The move followed a yuan rebound in onshore and offshore trading amid speculation Beijing would relax zero-COVID policy.

- Date: 2022-11-07 · published 2022-11-07T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/38904-pboc-ends-stronger-than-expected-yuan-fixings-amid-covid-bets-caixin-global
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

The end of state support for the yuan signals a market-driven currency, which adds volatility to China's dollar-priced commodity purchases.

## Read by commodity

- USDCNY: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2021-12-10 | [CX Daily: Yuan-Dollar Breakup, PBOC Warnings Signal Rocky Road for Currency in 2022 - Caixin Global](https://feedsoft.ai/events/43819-cx-daily-yuan-dollar-breakup-pboc-warnings-signal-rocky-road-for-currency-in.md) | -0.2% | -0.0% |
| USDCNY | 2018-12-13 | [The Yuan: Key Factors to Watch in 2019 - Caixin Global](https://feedsoft.ai/events/61796-the-yuan-key-factors-to-watch-in-2019-caixin-global.md) | +0.2% | -1.7% |
| USDCNY | 2022-02-23 | [Fisher: Why U.S. Rate Hikes Won’t Whack the Yuan — or Chinese Stocks - Caixin Global](https://feedsoft.ai/events/42931-fisher-why-u-s-rate-hikes-won-t-whack-the-yuan-or-chinese-stocks-caixin-global.md) | -0.2% | +0.6% |
| USDCNY | 2024-11-19 | [Yuan steadies at 3-1/2-mth low on firmer-than-expected fix, tighter offshore conditions - Markets - Business Recorder](https://feedsoft.ai/events/27631-yuan-steadies-at-3-1-2-mth-low-on-firmer-than-expected-fix-tighter-offshore.md) | +0.0% | +0.7% |
| USDCNY | 2026-02-24 | [China leaves benchmark lending rates unchanged as Beijing signals tolerance for stronger yuan](https://feedsoft.ai/events/7900-china-leaves-benchmark-lending-rates-unchanged-as-beijing-signals-tolerance-for.md) | -0.3% | -0.3% |

## Sources

- caixinglobal.com: https://www.caixinglobal.com/2022-11-07/pboc-ends-stronger-than-expected-yuan-fixings-amid-covid-bets-101961626.html

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