# China’s Central Bank Sends Yuan Surging

> China's central bank guided the yuan to its strongest level against the dollar since its 2015 devaluation, setting the reference rate at 6.2816 on Tuesday. The move followed a surge in the currency on Monday, and market participants disagreed about the cause.

- Date: 2018-03-27 · published 2018-03-27T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/66212-china-s-central-bank-sends-yuan-surging
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A stronger yuan lowers China's cost of dollar-priced imports, which can modestly support Chinese buying of US commodities. The effect on feed-grain prices is limited unless the trend persists.

## Read by commodity

- USDCNY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2025-01-10 | [China's central bank halts bond buying as yuan struggles](https://feedsoft.ai/events/26717-china-s-central-bank-halts-bond-buying-as-yuan-struggles.md) | -0.0% | -0.5% |
| USDCNY | 2023-06-29 | [Policy measures China's central bank could use to stem yuan weakness](https://feedsoft.ai/events/35711-policy-measures-china-s-central-bank-could-use-to-stem-yuan-weakness.md) | +0.1% | -1.0% |
| USDCNY | 2018-08-27 | [Yuan rallies as Chinese central bank revives pricing support - Nikkei Asia](https://feedsoft.ai/events/63744-yuan-rallies-as-chinese-central-bank-revives-pricing-support-nikkei-asia.md) | +0.4% | +0.8% |
| USDCNY | 2016-11-28 | [China’s central bank talks up the yuan against US dollar ‘uncertainties’ \| South China Morning Post](https://feedsoft.ai/events/74062-china-s-central-bank-talks-up-the-yuan-against-us-dollar-uncertainties-south.md) | -0.5% | +0.4% |
| USDCNY | 2017-11-02 | [People's Bank of China seen supporting yuan around Trump visit](https://feedsoft.ai/events/68225-people-s-bank-of-china-seen-supporting-yuan-around-trump-visit.md) | +0.3% | +0.2% |

## Sources

- wsj.com: https://www.wsj.com/articles/chinas-central-bank-sends-yuan-surging-1522126818?mod=e2twa

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