# Dollar Vs. Yuan: China Acts to Prop up Faltering Currency With Strong Fix - Markets Insider

> The People's Bank of China set the onshore yuan reference rate at 6.8536 per dollar on Thursday, stronger than the 6.8635 expected. The surprise fix signals Beijing's intent to shore up the currency after its sharp fall.

- Date: 2022-08-25 · published 2022-08-25T12:00:00.000Z
- Category: policy · region China · magnitude low
- Page: https://feedsoft.ai/events/40264-dollar-vs-yuan-china-acts-to-prop-up-faltering-currency-with-strong-fix-markets
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A firmer yuan eases the cost of dollar-priced feed imports for China and signals official resistance to further depreciation, which can ease the pressure on US soybean and grain demand.

## Read by commodity

- USDCNY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2022-09-07 | [China Sets Yuan CNY USD Fix at 6.916 Per Dollar, Strongest Bias on Record - Bloomberg](https://feedsoft.ai/events/12269-china-sets-yuan-cny-usd-fix-at-6-916-per-dollar-strongest-bias-on-record.md) | -0.4% | +2.3% |
| USDCNY | 2025-02-21 | [China’s central bank vows to enhance yuan amid looming risks from strong US dollar \| South China Morning Post](https://feedsoft.ai/events/26298-china-s-central-bank-vows-to-enhance-yuan-amid-looming-risks-from-strong-us.md) | +0.4% | -0.1% |
| USDCNY | 2022-04-27 | [China economy: Central bank tries to slow weakening yuan vs US dollar](https://feedsoft.ai/events/4947-china-economy-central-bank-tries-to-slow-weakening-yuan-vs-us-dollar.md) | +0.8% | +1.5% |
| USDCNY | 2023-07-06 | [China's yuan firms as central bank pledges again to stabilize currency](https://feedsoft.ai/events/35262-china-s-yuan-firms-as-central-bank-pledges-again-to-stabilize-currency.md) | -1.1% | -0.8% |
| USDCNY | 2026-02-27 | [China encourages dollar buying to slow surging yuan \| Reuters](https://feedsoft.ai/events/7895-china-encourages-dollar-buying-to-slow-surging-yuan-reuters.md) | +0.7% | +1.0% |

## Sources

- markets.businessinsider.com: https://markets.businessinsider.com/news/currencies/dollar-vs-yuan-china-currencies-central-bank-federal-reserve-policy-2022-8

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