# China's Currency Hits Four-Year High as PBOC Stands Back

> China's yuan touched a near four-year high against the dollar and a 6.5-year high against its trade-weighted basket. The PBOC set its daily midpoint at 6.3246 per dollar, the firmest since April 2018, and stayed largely silent while pre-holiday corporate demand supported the currency.

- Date: 2022-01-26 · published 2022-01-26T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/6265-china-s-currency-hits-four-year-high-as-pboc-stands-back
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A firmer yuan lowers the local-currency cost of dollar-priced imports such as soybeans and meal, which can modestly support Chinese import demand. The effect on grain prices is limited because the move is driven mainly by currency flows.

## Read by commodity

- USDCNY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2026-02-01 | [China's yuan hits 32-month high as PBOC carefully lifts midpoint](https://feedsoft.ai/events/21276-china-s-yuan-hits-32-month-high-as-pboc-carefully-lifts-midpoint.md) | -0.2% | -1.0% |
| USDCNY | 2017-01-14 | [China’s currency upsets forecasts by beginning the new year stronger](https://feedsoft.ai/events/11877-china-s-currency-upsets-forecasts-by-beginning-the-new-year-stronger.md) | -0.6% | -0.5% |
| USDCNY | 2017-06-01 | [China crushes yuan bears, snubs Moody's as currency takes off](https://feedsoft.ai/events/8835-china-crushes-yuan-bears-snubs-moody-s-as-currency-takes-off.md) | -0.2% | -0.2% |
| USDCNY | 2026-07-31 | [China’s offshore yuan hits 3-year high as Beijing signals policy support \| South China Morning Post](https://feedsoft.ai/events/18569-china-s-offshore-yuan-hits-3-year-high-as-beijing-signals-policy-support-south.md) | -0.1% | -0.5% |
| USDCNY | 2024-10-01 | [Malaysian ringgit hits more than 3-year high on China stimulus, leads Asian FX rally](https://feedsoft.ai/events/28590-malaysian-ringgit-hits-more-than-3-year-high-on-china-stimulus-leads-asian-fx.md) | -0.0% | +1.6% |

## Sources

- asiafinancial.com: https://www.asiafinancial.com/chinas-currency-hits-four-year-high-as-pboc-stands-back

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