# RMB gains as greenback weakens - Chinadaily.com.cn

> The yuan strengthened to a six-month high against the dollar after the Federal Reserve signalled patience on rate increases. The PBOC set its daily reference rate at 6.7025, and the currency gained 2.5% over January.

- Date: 2019-02-01 · published 2019-02-01T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/60810-rmb-gains-as-greenback-weakens-chinadaily-com-cn
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A stronger yuan lowers the cost of dollar-priced imports for China, which can support its purchasing of US grains and oilseeds.

## Read by commodity

- USDCNY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2022-11-14 | [RMB recovers on economic resilience - Chinadaily.com.cn](https://feedsoft.ai/events/38902-rmb-recovers-on-economic-resilience-chinadaily-com-cn.md) | -0.9% | -2.9% |
| USDCNY | 2018-01-22 | [Yuan may rise more on weaker dollar: analysts - World - Chinadaily.com.cn](https://feedsoft.ai/events/11867-yuan-may-rise-more-on-weaker-dollar-analysts-world-chinadaily-com-cn.md) | -1.2% | -0.9% |
| USDCNY | 2025-08-28 | [US Dollar: China Allows Faster USD/CNY Gains as Selling Pressure Hits Greenback \| Investing.com](https://feedsoft.ai/events/23544-us-dollar-china-allows-faster-usd-cny-gains-as-selling-pressure-hits-greenback.md) | -0.2% | -0.3% |
| USDCNY | 2018-02-08 | [Chinese yuan strengthens to new high against USD - Chinadaily.com.cn](https://feedsoft.ai/events/7105-chinese-yuan-strengthens-to-new-high-against-usd-chinadaily-com-cn.md) | +1.3% | +1.2% |
| USDCNY | 2019-04-29 | [GDP, inflows may buoy yuan - Chinadaily.com.cn](https://feedsoft.ai/events/59804-gdp-inflows-may-buoy-yuan-chinadaily-com-cn.md) | +0.1% | +2.5% |

## Sources

- global.chinadaily.com.cn: http://global.chinadaily.com.cn/a/201902/01/WS5c53ab99a3106c65c34e7bbc.html

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