# Yuan eases - Business & Finance - Business Recorder

> The PBOC set the yuan midpoint at 6.3014 per dollar, weaker than market projections, as the central bank showed discomfort with rapid yuan gains. State banks were reportedly buying dollars to defend the 6.31 level before the parliamentary meeting on March 5.

- Date: 2022-03-01 · published 2022-03-01T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/42486-yuan-eases-business-and-finance-business-recorder
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

Central bank intervention to slow yuan appreciation signals a managed currency that changes China's dollar-based import costs only gradually, a minor factor for feed prices.

## Read by commodity

- USDCNY: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2023-11-27 | [China’s yuan flat - Business & Finance - Business Recorder](https://feedsoft.ai/events/33390-china-s-yuan-flat-business-and-finance-business-recorder.md) | -0.1% | -0.2% |
| USDCNY | 2023-02-01 | [China’s yuan steadies ahead of Fed decision - Markets - Business Recorder](https://feedsoft.ai/events/37554-china-s-yuan-steadies-ahead-of-fed-decision-markets-business-recorder.md) | +0.5% | +1.7% |
| USDCNY | 2024-11-04 | [Yuan bounces as traders brace for US election volatility - Markets - Business Recorder](https://feedsoft.ai/events/6695-yuan-bounces-as-traders-brace-for-us-election-volatility-markets-business.md) | +0.8% | +2.3% |
| USDCNY | 2026-04-28 | [China's yuan steady as traders await Fed meet - Markets - Business Recorder](https://feedsoft.ai/events/19949-china-s-yuan-steady-as-traders-await-fed-meet-markets-business-recorder.md) | +0.1% | -0.5% |
| USDCNY | 2023-09-22 | [China’s yuan bounces on state bank support, offshore tightness - Markets - Business Recorder](https://feedsoft.ai/events/34329-china-s-yuan-bounces-on-state-bank-support-offshore-tightness-markets-business.md) | -0.1% | +0.1% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40157993

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