# China's Banks Are Getting Ready for Bigger Swings in the Yuan - Bloomberg

> Chinese depository institutions increased their foreign currency holdings to 5.39 trillion yuan in October, up 383 billion yuan so far in 2017. Official reserves stand at $3.1 trillion, and the article links the bank buying to preparation for larger currency swings.

- Date: 2017-11-22 · published 2017-11-22T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/68222-china-s-banks-are-getting-ready-for-bigger-swings-in-the-yuan-bloomberg
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

Bank positioning signals expected currency volatility but does not directly move feed commodity supply or demand. Its relevance to feed buyers is limited to exchange-rate risk for Chinese importers.

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2017-06-01 | [Yuan's Forecasters Getting It Wrong as China Jolts Markets - Bloomberg](https://feedsoft.ai/events/70728-yuan-s-forecasters-getting-it-wrong-as-china-jolts-markets-bloomberg.md) | -0.2% | -0.2% |
| USDCNY | 2024-03-27 | [Watch China's Confusing Signals on the Yuan - Bloomberg](https://feedsoft.ai/events/31442-watch-china-s-confusing-signals-on-the-yuan-bloomberg.md) | +0.2% | +0.4% |
| USDCNY | 2021-06-17 | [China’s PBOC Braces for Weaker Yuan as Fed Plans Tapering - Bloomberg](https://feedsoft.ai/events/7116-china-s-pboc-braces-for-weaker-yuan-as-fed-plans-tapering-bloomberg.md) | +1.2% | +1.0% |
| USDCNY | 2016-11-16 | [China’s Yuan Tumbles to Eight-Year Low as Banks Weaken Forecasts - Bloomberg](https://feedsoft.ai/events/7741-china-s-yuan-tumbles-to-eight-year-low-as-banks-weaken-forecasts-bloomberg.md) | +0.5% | +0.7% |
| USDCNY | 2018-08-09 | [Vietnamese Dong Feels the Ripples of China's Yuan Rout - Bloomberg](https://feedsoft.ai/events/63814-vietnamese-dong-feels-the-ripples-of-china-s-yuan-rout-bloomberg.md) | +1.4% | -0.0% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2017-11-22/china-s-banks-are-getting-ready-for-bigger-swings-in-the-yuan

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