# Chinese yuan makes highest record against USD since Dec 2015

> The yuan's central parity rate strengthened 202 basis points to 6.4372 against the dollar on January 16, its highest level since December 2015. CICC cut its end-2018 yuan forecast from 6.48 to 6.28, citing an expected weaker dollar this year.

- Date: 2018-01-16 · published 2018-01-16T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/67198-chinese-yuan-makes-highest-record-against-usd-since-dec-2015
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A stronger yuan lowers the yuan cost of dollar-priced feed imports, which can support Chinese buying interest for grains and meal. The forecast points to continued yuan strength if the dollar stays weak.

## Read by commodity

- USDCNY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2020-09-30 | [China’s yuan records best performance against dollar since 2008 - MarketWatch](https://feedsoft.ai/events/51316-china-s-yuan-records-best-performance-against-dollar-since-2008-marketwatch.md) | -0.4% | -1.3% |
| USDCNY | 2018-01-25 | [Chinese yuan strengthens to 27-month high against USD Thursday](https://feedsoft.ai/events/11866-chinese-yuan-strengthens-to-27-month-high-against-usd-thursday.md) | -1.3% | -0.3% |
| USDCNY | 2021-07-15 | [China's yuan inches higher, GDP data caps gains - Markets - Business Recorder](https://feedsoft.ai/events/46289-china-s-yuan-inches-higher-gdp-data-caps-gains-markets-business-recorder.md) | -0.0% | +0.1% |
| 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 | 2021-05-31 | [China lifts yuan midpoint to new 3 year high, basket index at highest since 2016 - Markets - Business Recorder](https://feedsoft.ai/events/47318-china-lifts-yuan-midpoint-to-new-3-year-high-basket-index-at-highest-since-2016.md) | +0.5% | +1.4% |

## Sources

- english.www.gov.cn: https://english.www.gov.cn/news/top_news/2018/01/16/content_281476015902240.htm

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