# Economic Watch: 4 reasons why RMB stood tall in 2017 - Xinhua | English.news.cn

> Xinhua reported that the yuan closed 2017 at 6.5120 per dollar, up 6.72% for the year and its sharpest annual gain in nine years. It attributed the strength to a softer dollar, a robust Chinese economy, tighter regulation and growing global use of the currency.

- Date: 2017-12-31 · published 2017-12-31T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/67710-economic-watch-4-reasons-why-rmb-stood-tall-in-2017-xinhua-english-news-cn
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A stronger yuan lowers the local cost of dollar-priced imports such as soybeans and meal, which can support Chinese demand. Analysts expect the currency to hold steady against a basket in 2018, so the feed price impact should stay limited.

## Read by commodity

- USDCNY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2018-01-31 | [Economic Watch: What's behind RMB's strength? - Xinhua \| English.news.cn](https://feedsoft.ai/events/67195-economic-watch-what-s-behind-rmb-s-strength-xinhua-english-news-cn.md) | -0.6% | +0.1% |
| USDCNY | 2019-02-25 | [News Analysis: Robust yuan points to market confidence in Chinese economy - Xinhua \| English.news.cn](https://feedsoft.ai/events/60808-news-analysis-robust-yuan-points-to-market-confidence-in-chinese-economy-xinhua.md) | -0.1% | +0.1% |
| USDCNY | 2018-02-01 | [Chinese yuan strengthens to new high against USD - Xinhua \| English.news.cn](https://feedsoft.ai/events/66716-chinese-yuan-strengthens-to-new-high-against-usd-xinhua-english-news-cn.md) | -0.3% | +1.2% |
| USDCNY | 2017-10-31 | [Chinese yuan strengthens to 6.6397 against USD Tuesday - Xinhua \| English.news.cn](https://feedsoft.ai/events/68676-chinese-yuan-strengthens-to-6-6397-against-usd-tuesday-xinhua-english-news-cn.md) | -0.3% | -0.6% |
| USDCNY | 2019-11-07 | [Chinese yuan strengthens to 7.0008 against USD Thursday - Xinhua \| English.news.cn](https://feedsoft.ai/events/56298-chinese-yuan-strengthens-to-7-0008-against-usd-thursday-xinhua-english-news-cn.md) | +0.3% | +0.5% |

## Sources

- xinhuanet.com: http://www.xinhuanet.com/english/2017-12/31/c_136863171.htm

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