# Former central bank official says keeping yuan stable "crucial"  - Xinhua Silk Road

> A commentary co-authored by a former PBOC official argues that keeping the yuan basically stable is crucial, since devaluation would give only short-term export gains without improving competitiveness. It also notes that net exports were a negative contributor to GDP last year.

- Date: 2019-07-09 · published 2019-07-09T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/58332-former-central-bank-official-says-keeping-yuan-stable-crucial-xinhua-silk-road
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A stable yuan limits the risk of a sharp currency-driven drop in Chinese import demand for US and Brazilian feed commodities.

## Read by commodity

- USDCNY: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2021-01-26 | [Chinese Yuan Outlook: Tightening Measures From China’s Central Bank Sends A Warning Shot To Risk Markets](https://feedsoft.ai/events/49363-chinese-yuan-outlook-tightening-measures-from-china-s-central-bank-sends-a.md) | -0.2% | -0.2% |
| USDCNY | 2019-06-17 | [Chinese yuan to remain stable despite temporary fluctuations_Xinhua Finance Agency](https://feedsoft.ai/events/9811-chinese-yuan-to-remain-stable-despite-temporary-fluctuations-xinhua-finance.md) | -0.8% | -0.7% |
| USDCNY | 2017-08-17 | [Markets still bewildered after China central bank explains yuan 'X'-factor - The Business Times](https://feedsoft.ai/events/69677-markets-still-bewildered-after-china-central-bank-explains-yuan-x-factor-the.md) | -0.5% | -2.1% |
| USDCNY | 2026-07-31 | [PBOC Seeks to Temper Yuan Rally With Stable Daily Fix \| Financial Post](https://feedsoft.ai/events/18571-pboc-seeks-to-temper-yuan-rally-with-stable-daily-fix-financial-post.md) | -0.1% | -0.5% |
| USDCNY | 2022-09-29 | ['Do not bet': China's central bank PBOC warns against yuan speculation](https://feedsoft.ai/events/39805-do-not-bet-china-s-central-bank-pboc-warns-against-yuan-speculation.md) | -1.2% | +0.3% |

## Sources

- en.imsilkroad.com: https://en.imsilkroad.com/p/306646.html

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