# China economy: PBOC could be trying to shore up the yuan (RMB)

> The PBOC set the yuan midpoint at 7.0810 per dollar, weaker than the prior day but stronger than the roughly 7.1055 market estimate. Analysts suggested Beijing may be trying to slow the currency's depreciation during the ongoing trade war.

- Date: 2019-08-27 · published 2019-08-27T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/57792-china-economy-pboc-could-be-trying-to-shore-up-the-yuan-rmb
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

Managed yuan weakness supports Chinese export competitiveness and feeds into the broader trade dispute affecting US soybean and grain demand, though the smaller-than-expected move limits the price shock.

## Read by commodity

- USDCNY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2019-08-28 | [China economy: How PBOC controls the yuan (RMB) amid trade war](https://feedsoft.ai/events/57794-china-economy-how-pboc-controls-the-yuan-rmb-amid-trade-war.md) | -0.2% | -0.4% |
| USDCNY | 2023-06-27 | [China steps in to stem yuan slide, shore up confidence \| Reuters](https://feedsoft.ai/events/10488-china-steps-in-to-stem-yuan-slide-shore-up-confidence-reuters.md) | +0.0% | -1.4% |
| USDCNY | 2017-01-05 | [China's Offshore Yuan is Bossing the US Dollar Around Today](https://feedsoft.ai/events/10253-china-s-offshore-yuan-is-bossing-the-us-dollar-around-today.md) | +0.1% | -1.0% |
| USDCNY | 2019-04-04 | [U.S.-China trade optimism to help yuan overcome concerns over weakening economy: Reuters poll](https://feedsoft.ai/events/59803-u-s-china-trade-optimism-to-help-yuan-overcome-concerns-over-weakening-economy.md) | +0.1% | +0.3% |
| USDCNY | 2017-01-05 | [Update \| Offshore yuan borrowing costs spike to 110 pc as PBOC beats back short sellers \| South China Morning Post](https://feedsoft.ai/events/73182-update-offshore-yuan-borrowing-costs-spike-to-110-pc-as-pboc-beats-back-short.md) | +0.1% | -1.0% |

## Sources

- cnbc.com: https://www.cnbc.com/2019/08/27/china-economy-pboc-could-be-trying-to-shore-up-the-yuan-rmb.html

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