# China's reserves fall, suggesting Beijing propping up yuan | AP News

> China's foreign exchange reserves, the world's largest, fell about $34 billion to just over $3 trillion according to central bank data. The yuan sank to a 10-year low of 6.9756 per dollar at the end of October, close to the 7 level.

- Date: 2018-11-07 · published 2018-11-07T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/62266-china-s-reserves-fall-suggesting-beijing-propping-up-yuan-ap-news
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

Reserve drawdowns indicate Beijing is spending dollars to prop up the yuan, which supports Chinese purchasing power for US imports but signals financial stress. The effect on feed commodity prices is indirect.

## Read by commodity

- USDCNY: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2023-01-31 | [China's yuan steadies ahead of Fed decision \| Kitco News](https://feedsoft.ai/events/37985-china-and-apos-s-yuan-steadies-ahead-of-fed-decision-kitco-news.md) | +0.6% | +2.7% |
| USDCNY | 2022-06-29 | [Arab News \| India In-Focus — Rupee hits record low; Shares fall; UltraTech Cement paying for Russian coal in Chinese yuan](https://feedsoft.ai/events/41215-arab-news-india-in-focus-rupee-hits-record-low-shares-fall-ultratech-cement.md) | 0.0% | +0.7% |
| 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% |
| USDCNY | 2026-02-24 | [China leaves benchmark lending rates unchanged as Beijing signals tolerance for stronger yuan](https://feedsoft.ai/events/7900-china-leaves-benchmark-lending-rates-unchanged-as-beijing-signals-tolerance-for.md) | -0.3% | -0.3% |
| USDCNY | 2017-10-10 | [Chinese firms rush to hedge as yuan swings begin to sting \| South China Morning Post](https://feedsoft.ai/events/6416-chinese-firms-rush-to-hedge-as-yuan-swings-begin-to-sting-south-china-morning.md) | -1.0% | -0.3% |

## Sources

- apnews.com: https://apnews.com/general-news-50add7ac30fa40d6abdac5fe24896178

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