# Is China Going To Devalue The Chinese Yuan (CNY)? | Disruption Banking

> Foreign exchange markets are speculating that Beijing may allow the yuan to devalue after months of pressure, with the dollar up about 150 basis points against CNY this year. Reuters reported Chinese firms are hoarding dollars, and Western governments have raised concerns about possible currency manipulation. China has recently announced large public spending on manufacturing and an export push.

- Date: 2024-05-08 · published 2024-05-08T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/5873-is-china-going-to-devalue-the-chinese-yuan-cny-disruption-banking
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A weaker yuan would make Chinese exports cheaper and could cut the local-currency cost of feed imports, but it would also raise trade tensions that could affect global agricultural trade flows.

## Read by commodity

- USDCNY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2018-10-31 | [Why the Chinese yuan is falling](https://feedsoft.ai/events/62761-why-the-chinese-yuan-is-falling.md) | -0.7% | -0.4% |
| USDCNY | 2019-08-05 | [China's central bank denies devaluation is to counter tariffs](https://feedsoft.ai/events/5375-china-s-central-bank-denies-devaluation-is-to-counter-tariffs.md) | +1.8% | +3.1% |
| USDCNY | 2024-04-29 | [CNY USD: Yuan Devaluation Debate Surfaces as Way to Support China Economy - Bloomberg](https://feedsoft.ai/events/30953-cny-usd-yuan-devaluation-debate-surfaces-as-way-to-support-china-economy.md) | -0.1% | -0.1% |
| USDCNY | 2018-10-31 | [This Is How China Keeps a Firm Grip on the Yuan](https://feedsoft.ai/events/62766-this-is-how-china-keeps-a-firm-grip-on-the-yuan.md) | -0.7% | -0.4% |
| USDCNY | 2022-12-06 | [Will the Chinese yuan fall with the economy? \| IG Bank Switzerland](https://feedsoft.ai/events/6580-will-the-chinese-yuan-fall-with-the-economy-ig-bank-switzerland.md) | +0.2% | -1.1% |

## Sources

- disruptionbanking.com: https://www.disruptionbanking.com/2024/05/08/is-china-going-to-devalue-the-chinese-yuan-cny/

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