# Situation and development of China's foreign exchange market | Bank for International Settlements

> PBOC Deputy Governor Pan Gongsheng said at the Lujiazui Forum on June 10 that the yuan has shown two-way fluctuations and remains basically stable. He described China's managed floating regime and a current account surplus within a reasonable range.

- Date: 2021-06-10 · published 2021-06-10T12:00:00.000Z
- Category: policy · region China · magnitude low
- Page: https://feedsoft.ai/events/46817-situation-and-development-of-china-s-foreign-exchange-market-bank-for
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

The speech reinforces expectations of a stable yuan, so it offers little price signal for feed grains or meal.

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2016-06-20 | [The renminbi in the SDR basket and its future role in the international financial system \| Bank for International Settlements](https://feedsoft.ai/events/10883-the-renminbi-in-the-sdr-basket-and-its-future-role-in-the-international.md) | +0.5% | +1.8% |
| USDCNY | 2017-04-27 | [China to push yuan internationalization, free trade: central bank official](https://feedsoft.ai/events/71710-china-to-push-yuan-internationalization-free-trade-central-bank-official.md) | +0.1% | -0.1% |
| USDCNY | 2022-09-29 | [Exclusive: China's state banks told to stock up for yuan intervention](https://feedsoft.ai/events/7209-exclusive-china-s-state-banks-told-to-stock-up-for-yuan-intervention.md) | -1.2% | +0.3% |
| USDCNY | 2016-12-03 | [China should use part of its foreign reserves to stabilize yuan expectations: central bank adviser](https://feedsoft.ai/events/73694-china-should-use-part-of-its-foreign-reserves-to-stabilize-yuan-expectations.md) | +0.3% | +1.1% |
| USDCNY | 2019-03-10 | [China won't use exchange rate for competition: Official \| The Straits Times](https://feedsoft.ai/events/60335-china-won-t-use-exchange-rate-for-competition-official-the-straits-times.md) | -0.1% | -0.0% |

## Sources

- bis.org: https://www.bis.org/speeches/20210610-situation-and-development-chinas-foreign-exchange-market

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