# China lifts yuan midpoint to new 3 year high, basket index at highest since 2016 - Markets - Business Recorder

> The PBOC set its yuan midpoint at 6.3682 per dollar, the firmest since May 2018, and the trade-weighted basket index reached its highest since March 2016. The fixing came in 0.28% stronger than the previous day.

- Date: 2021-05-31 · published 2021-05-31T12:00:00.000Z
- Category: macro · region China · magnitude medium
- Page: https://feedsoft.ai/events/47318-china-lifts-yuan-midpoint-to-new-3-year-high-basket-index-at-highest-since-2016
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A stronger yuan lowers China's local-currency cost of dollar-priced grain and oilseed imports, which can support import demand. The basket index reaching a multi-year high also raises the cost of Chinese exports.

## Read by commodity

- USDCNY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2026-05-25 | [China's yuan advances to 3-year high as investors weigh prospects of US-Iran deal - Markets - Business Recorder](https://feedsoft.ai/events/19484-china-s-yuan-advances-to-3-year-high-as-investors-weigh-prospects-of-us-iran.md) | -0.4% | -0.1% |
| USDCNY | 2021-07-15 | [China's yuan inches higher, GDP data caps gains - Markets - Business Recorder](https://feedsoft.ai/events/46289-china-s-yuan-inches-higher-gdp-data-caps-gains-markets-business-recorder.md) | -0.0% | +0.1% |
| USDCNY | 2023-07-31 | [China’s yuan inches higher after better-than-expected PMI data - Markets - Business Recorder](https://feedsoft.ai/events/35259-china-s-yuan-inches-higher-after-better-than-expected-pmi-data-markets-business.md) | +0.3% | +2.0% |
| USDCNY | 2025-11-28 | [China’s yuan set for longest monthly win streak since 2021 - Markets - Business Recorder](https://feedsoft.ai/events/22171-china-s-yuan-set-for-longest-monthly-win-streak-since-2021-markets-business.md) | -0.1% | -1.0% |
| USDCNY | 2021-08-30 | [China’s yuan touches 3-week high - Business & Finance - Business Recorder](https://feedsoft.ai/events/45782-china-s-yuan-touches-3-week-high-business-and-finance-business-recorder.md) | -0.3% | -0.2% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40096539

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