# China's renminbi (CNY) will benefit from its safe haven status | Oxford Economics

> Oxford Economics says the renminbi has held steady despite China's economic slowdown and the Russia-Ukraine war, and expects it to remain durable in the first half of 2022. It expects weakness in the second half as policy divergence with the US and a smaller current account surplus weigh on the currency.

- Date: 2022-03-01 · published 2022-03-01T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/42490-china-s-renminbi-cny-will-benefit-from-its-safe-haven-status-oxford-economics
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A forecast of a weaker yuan in the second half would modestly lower China's dollar cost of imported feed inputs, with limited near-term price impact.

## Read by commodity

- USDCNY: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2023-10-16 | [What’s driving the renminbi in China? \| Oxford Economics](https://feedsoft.ai/events/33862-what-s-driving-the-renminbi-in-china-oxford-economics.md) | +0.1% | -0.2% |
| USDCNY | 2018-05-10 | [Opinion: Why China’s Currency Is Becoming a Safe Haven - Caixin Global](https://feedsoft.ai/events/65236-opinion-why-china-s-currency-is-becoming-a-safe-haven-caixin-global.md) | +0.2% | +0.5% |
| USDCNY | 2023-09-11 | [China issues strong warning against bets on renminbi depreciation](https://feedsoft.ai/events/34332-china-issues-strong-warning-against-bets-on-renminbi-depreciation.md) | -0.9% | -0.6% |
| USDCNY | 2024-10-07 | [Renminbi on track for stability against USD - Chinadaily.com.cn](https://feedsoft.ai/events/11043-renminbi-on-track-for-stability-against-usd-chinadaily-com-cn.md) | +0.7% | +1.2% |
| USDCNY | 2022-03-02 | [China’s recent hands-off approach to renminbi fluctuation could change - Euromoney](https://feedsoft.ai/events/42488-china-s-recent-hands-off-approach-to-renminbi-fluctuation-could-change-euromoney.md) | +0.1% | +0.8% |

## Sources

- oedevelopment.oxfordeconomics.com: https://www.oedevelopment.oxfordeconomics.com/resource/cny-will-benefit-from-its-safe-haven-status/

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