# Fans of a more open China should welcome the devalued yuan

> The People's Bank of China announced a reform of its daily USD/CNY midpoint fixing mechanism, which an analyst says was timed to weaken the yuan. The commentary frames the change as a step toward internationalising the currency.

- Date: 2017-09-24 · published 2017-09-24T12:00:00.000Z
- Category: policy · region China · magnitude medium
- Page: https://feedsoft.ai/events/69192-fans-of-a-more-open-china-should-welcome-the-devalued-yuan
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A weaker yuan makes US and other dollar-priced feed imports more expensive for China, which could slow purchases at the margin.

## Read by commodity

- USDCNY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2021-10-20 | [China Sets Weaker-Than-Expected Yuan Fix, Adds More Cash  - Caixin Global](https://feedsoft.ai/events/7480-china-sets-weaker-than-expected-yuan-fix-adds-more-cash-caixin-global.md) | -0.0% | -0.1% |
| USDCNY | 2017-09-10 | [China Is Striving to Contain Its Once-Diving, Now-Thriving Yuan](https://feedsoft.ai/events/9413-china-is-striving-to-contain-its-once-diving-now-thriving-yuan.md) | +1.1% | +2.7% |
| USDCNY | 2019-06-08 | [China is letting value of yuan slide to offset trade war tariffs, US Treasury Secretary Mnuchin says \| South China Morning Post](https://feedsoft.ai/events/58822-china-is-letting-value-of-yuan-slide-to-offset-trade-war-tariffs-us-treasury.md) | +0.3% | -0.4% |
| USDCNY | 2021-01-06 | [China moves to curb yuan rally pressure due to hot money and export concerns \| South China Morning Post](https://feedsoft.ai/events/49366-china-moves-to-curb-yuan-rally-pressure-due-to-hot-money-and-export-concerns.md) | +0.1% | +0.3% |
| USDCNY | 2024-11-26 | [China's yuan slides to four-month low on Trump's tariff promise \| Reuters](https://feedsoft.ai/events/27628-china-s-yuan-slides-to-four-month-low-on-trump-s-tariff-promise-reuters.md) | +0.6% | +0.8% |

## Sources

- lens.monash.edu: https://lens.monash.edu/fans-of-a-more-open-china-should-welcome-the-devalued-yuan/

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