# China's efforts to make Yuan rate more transparent gain momentum – Bloomberg — Octa

> SAFE head Pan Gongsheng backed a more transparent, rule-based yuan reference rate in which the market plays a bigger role in price setting. The remarks followed Governor Yi Gang's comments favoring a flexible rate.

- Date: 2019-03-26 · published 2019-03-26T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/60337-china-s-efforts-to-make-yuan-rate-more-transparent-gain-momentum-bloomberg-octa
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A more market-driven yuan could increase currency volatility, which affects the dollar cost of Chinese feed imports.

## Read by commodity

- USDCNY: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2021-04-19 | [Global Reflation Trade Gains New Momentum From China’s Yuan - Bloomberg](https://feedsoft.ai/events/47815-global-reflation-trade-gains-new-momentum-from-china-s-yuan-bloomberg.md) | -0.4% | -1.3% |
| USDCNY | 2017-04-06 | [China’s Efforts to Boost the Yuan](https://feedsoft.ai/events/71719-china-s-efforts-to-boost-the-yuan.md) | -0.0% | +0.1% |
| USDCNY | 2024-03-27 | [Watch China's Confusing Signals on the Yuan - Bloomberg](https://feedsoft.ai/events/31442-watch-china-s-confusing-signals-on-the-yuan-bloomberg.md) | +0.2% | +0.4% |
| USDCNY | 2018-08-09 | [Vietnamese Dong Feels the Ripples of China's Yuan Rout - Bloomberg](https://feedsoft.ai/events/63814-vietnamese-dong-feels-the-ripples-of-china-s-yuan-rout-bloomberg.md) | +1.4% | -0.0% |
| USDCNY | 2017-01-03 | [China Inc.’s Large Dollar Debts Fuel Beijing’s Efforts to Curb Yuan Plunge](https://feedsoft.ai/events/10254-china-inc-s-large-dollar-debts-fuel-beijing-s-efforts-to-curb-yuan-plunge.md) | -0.1% | -1.0% |

## Sources

- octaafrica.net: https://www.octaafrica.net/markets/news/view/682188/

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