# China’s yuan records best performance against dollar since 2008 - MarketWatch

> The yuan booked a 3.7% gain against the dollar in the third quarter, its best quarterly performance since Q1 2008. Analysts attribute the rally to China's faster economic recovery from the coronavirus pandemic relative to the US.

- Date: 2020-09-30 · published 2020-09-30T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/51316-china-s-yuan-records-best-performance-against-dollar-since-2008-marketwatch
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A sustained yuan rally lowers the local-currency cost of imported feed ingredients for China, which can support import demand and dollar-denominated grain prices.

## Read by commodity

- USDCNY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2018-01-16 | [Chinese yuan makes highest record against USD since Dec 2015](https://feedsoft.ai/events/67198-chinese-yuan-makes-highest-record-against-usd-since-dec-2015.md) | -0.9% | -2.1% |
| USDCNY | 2024-09-30 | [China’s yuan poised for best quarter since 2020; state banks try to slow gains - Markets - Business Recorder](https://feedsoft.ai/events/28550-china-s-yuan-poised-for-best-quarter-since-2020-state-banks-try-to-slow-gains.md) | +0.1% | +1.6% |
| USDCNY | 2026-08-31 | [China's yuan firms despite dollar rebound - Markets - Business Recorder](https://feedsoft.ai/events/18093-china-s-yuan-firms-despite-dollar-rebound-markets-business-recorder.md) | -0.2% | -0.2% |
| USDCNY | 2017-12-28 | [China's yuan rises on US dollar weakness, on track for best year since 2008 - Times of News](https://feedsoft.ai/events/67709-china-s-yuan-rises-on-us-dollar-weakness-on-track-for-best-year-since-2008.md) | -1.0% | -3.6% |
| USDCNY | 2026-10-12 | [Yuan holds near 3-1/2-year high against dollar as rate bets ease - Markets - Business Recorder](https://feedsoft.ai/events/17258-yuan-holds-near-3-1-2-year-high-against-dollar-as-rate-bets-ease-markets.md) | -0.2% | — |

## Sources

- marketwatch.com: https://www.marketwatch.com/story/chinas-yuan-records-best-performance-against-dollar-since-2008-11601509545

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