# China has ‘halted intervention in yuan exchange rate market’ | South China Morning Post

> A deputy governor of the People's Bank of China said on October 18 that the yuan's recent stability is decided by market forces and that the central bank has largely ended daily intervention in the foreign exchange market. He said the currency should be more stable after the 19th Party Congress.

- Date: 2017-10-18 · published 2017-10-18T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/68678-china-has-halted-intervention-in-yuan-exchange-rate-market-south-china-morning
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

Less state management of the yuan means more exchange-rate volatility, which can change the cost of Chinese imports of feed ingredients priced in dollars. The signal is modest for near-term feed prices.

## Read by commodity

- USDCNY: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2017-04-10 | [Opinion \| Why PBOC’s halt in currency intervention may be temporary \| South China Morning Post](https://feedsoft.ai/events/71711-opinion-why-pboc-s-halt-in-currency-intervention-may-be-temporary-south-china.md) | -0.2% | +0.1% |
| USDCNY | 2024-08-30 | [China’s yuan volatility rising on interest rates, US presidential election: Goldman \| South China Morning Post](https://feedsoft.ai/events/29023-china-s-yuan-volatility-rising-on-interest-rates-us-presidential-election.md) | -0.1% | -1.2% |
| USDCNY | 2017-02-22 | [Across The Border \| Why the PBOC has changed the way it computes the yuan’s daily midpoint \| South China Morning Post](https://feedsoft.ai/events/72720-across-the-border-why-the-pboc-has-changed-the-way-it-computes-the-yuan-s-daily.md) | -0.2% | +0.0% |
| USDCNY | 2017-10-10 | [Chinese firms rush to hedge as yuan swings begin to sting \| South China Morning Post](https://feedsoft.ai/events/6416-chinese-firms-rush-to-hedge-as-yuan-swings-begin-to-sting-south-china-morning.md) | -1.0% | -0.3% |
| USDCNY | 2018-01-18 | [China says yuan gains market-driven, two-way swings will be the norm \| South China Morning Post](https://feedsoft.ai/events/67199-china-says-yuan-gains-market-driven-two-way-swings-will-be-the-norm-south-china.md) | -1.1% | -1.4% |

## Sources

- scmp.com: https://www.scmp.com/news/china/economy/article/2115885/china-has-halted-intervention-yuan-exchange-rate-market

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