# Chinese yuan continues to climb against USD - People's Daily Online

> The Chinese yuan kept strengthening against the US dollar, with the central parity rate rising 191 basis points to above 6.61 on Wednesday after a 60-basis-point gain Tuesday. The move took the currency to its highest level since August 2016.

- Date: 2017-08-31 · published 2017-08-31T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/69673-chinese-yuan-continues-to-climb-against-usd-people-s-daily-online
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A firmer yuan lifts Chinese import purchasing power for feed ingredients priced in dollars, while a stronger yuan can modestly support Chinese demand for US and Brazilian feed commodities.

## Read by commodity

- USDCNY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2017-09-08 | [Chinese yuan strengthens to near 16-month high against USD - People's Daily Online](https://feedsoft.ai/events/7803-chinese-yuan-strengthens-to-near-16-month-high-against-usd-people-s-daily-online.md) | +1.1% | +2.6% |
| 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 | 2024-10-08 | [Stimulus moves help yuan strengthen near 7 against dollar - People's Daily Online](https://feedsoft.ai/events/11038-stimulus-moves-help-yuan-strengthen-near-7-against-dollar-people-s-daily-online.md) | +1.4% | +1.2% |
| 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 | 2018-01-16 | [Chinese yuan makes highest record against USD since Dec 2015](https://feedsoft.ai/events/67198-chinese-yuan-makes-highest-record-against-usd-since-dec-2015.md) | -0.9% | -2.1% |

## Sources

- en.people.cn: http://en.people.cn/business/n3/2017/0831/c90778-9262551.html

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