# Central bank targets exchange rate stability - Chinadaily.com.cn

> Economists said the PBOC intends to keep the renminbi stable against a basket of major currencies as the currency's appreciation against the dollar loses momentum. The central bank recently raised the reserve requirement on foreign currency deposits to reduce foreign exchange supply.

- Date: 2021-06-18 · published 2021-06-18T12:00:00.000Z
- Category: policy · region China · magnitude low
- Page: https://feedsoft.ai/events/7118-central-bank-targets-exchange-rate-stability-chinadaily-com-cn
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

Stable yuan policy reduces the chance of abrupt currency swings that would disrupt the dollar cost of Chinese feed imports. Feed prices are unlikely to move on this news alone.

## Read by commodity

- USDCNY: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2022-01-22 | [Yuan exchange rate seen staying stable - Chinadaily.com.cn](https://feedsoft.ai/events/43359-yuan-exchange-rate-seen-staying-stable-chinadaily-com-cn.md) | +0.3% | -0.2% |
| USDCNY | 2017-09-24 | [China wants to reduce control of changes in yuan's exchange rate - Chinadaily.com.cn](https://feedsoft.ai/events/69191-china-wants-to-reduce-control-of-changes-in-yuan-s-exchange-rate-chinadaily-com.md) | +1.0% | +0.7% |
| USDCNY | 2019-03-26 | [RMB rate flexibility stays firmly on agenda \| govt.chinadaily.com.cn](https://feedsoft.ai/events/60334-rmb-rate-flexibility-stays-firmly-on-agenda-govt-chinadaily-com-cn.md) | +0.0% | +0.0% |
| USDCNY | 2023-01-13 | [China’s yuan: central bank to boost flexibility of exchange rate to handle ‘shocks’ from overseas monetary policy \| South China Morning Post](https://feedsoft.ai/events/37987-china-s-yuan-central-bank-to-boost-flexibility-of-exchange-rate-to-handle.md) | +0.7% | +1.1% |
| USDCNY | 2019-10-20 | [China’s yuan exchange rate ‘appropriate’ after recent weakening, central bank chief says \| South China Morning Post](https://feedsoft.ai/events/56815-china-s-yuan-exchange-rate-appropriate-after-recent-weakening-central-bank.md) | -0.2% | -0.8% |

## Sources

- chinadaily.com.cn: https://www.chinadaily.com.cn/a/202106/18/WS60cc098fa31024ad0bac9fa7.html

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