# China’s yuan exchange rate ‘appropriate’ after recent weakening, central bank chief says | South China Morning Post

> PBOC governor Yi Gang said the yuan's exchange rate is at an appropriate level, with depreciation since August driven by market forces. He spoke at the IMF annual meeting as the US and China work to finalize an interim trade deal that includes currency stability provisions.

- Date: 2019-10-20 · published 2019-10-20T12:00:00.000Z
- Category: policy · region China · magnitude low
- Page: https://feedsoft.ai/events/56815-china-s-yuan-exchange-rate-appropriate-after-recent-weakening-central-bank
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Official assurance of currency stability reduces the risk of competitive devaluation undercutting a trade deal that includes Chinese farm purchases. This supports confidence in dollar-priced US agricultural exports.

## Read by commodity

- SOY: neutral
- USDCNY: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2023-01-13 | [China’s yuan: central bank to boost flexibility of exchange rate to handle ‘shocks’ from overseas monetary policy \| South China Morning Post](https://feedsoft.ai/events/37987-china-s-yuan-central-bank-to-boost-flexibility-of-exchange-rate-to-handle.md) | +0.7% | +1.1% |
| USDCNY | 2017-01-01 | [China tweaks yuan basket to play down US dollar \| South China Morning Post](https://feedsoft.ai/events/73191-china-tweaks-yuan-basket-to-play-down-us-dollar-south-china-morning-post.md) | -0.1% | -1.0% |
| USDCNY | 2021-06-18 | [Central bank targets exchange rate stability - Chinadaily.com.cn](https://feedsoft.ai/events/7118-central-bank-targets-exchange-rate-stability-chinadaily-com-cn.md) | +0.3% | +0.5% |
| USDCNY | 2017-01-03 | [China's yuan may see more volatility vs dollar after basket change \| Reuters](https://feedsoft.ai/events/10252-china-s-yuan-may-see-more-volatility-vs-dollar-after-basket-change-reuters.md) | -0.1% | -1.0% |
| USDCNY | 2022-01-22 | [Yuan exchange rate seen staying stable - Chinadaily.com.cn](https://feedsoft.ai/events/43359-yuan-exchange-rate-seen-staying-stable-chinadaily-com-cn.md) | +0.3% | -0.2% |
| SOY | 2021-04-26 | [Argentina's central bank blocks bankrupt soy giant from exchange markets \| Financial Post](https://feedsoft.ai/events/47433-argentina-s-central-bank-blocks-bankrupt-soy-giant-from-exchange-markets.md) | +2.0% | -0.9% |
| SOY | 2024-12-20 | [Markets stabilize as Central Bank acts, House OKs spending review](https://feedsoft.ai/events/27147-markets-stabilize-as-central-bank-acts-house-oks-spending-review.md) | +1.8% | +10.8% |
| SOY | 2022-02-23 | [China to release soybeans, soy oil from central reserves to boost supplies](https://feedsoft.ai/events/8762-china-to-release-soybeans-soy-oil-from-central-reserves-to-boost-supplies.md) | +4.3% | +3.8% |

## Sources

- scmp.com: https://www.scmp.com/economy/china-economy/article/3033743/chinas-yuan-exchange-rate-appropriate-after-recent-weakening

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