# Yuan Strengthens after China Announces Plans to Expand Currency Basket - Caixin Global

> The yuan's central parity rate strengthened after China said it will expand the CFETS currency basket from 13 to 24 currencies from January 1. The U.S. dollar's weight in the basket falls to 22.4% from 26.4%.

- Date: 2016-12-30 · published 2016-12-30T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/73679-yuan-strengthens-after-china-announces-plans-to-expand-currency-basket-caixin
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

The basket change dilutes the dollar's role in setting the yuan, a modest support for the yuan that could temporarily ease pressure on Chinese feed import costs.

## Read by commodity

- USDCNY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2019-01-31 | [Yuan Strengthens As Fed Holds Interest Rates Steady - Caixin Global](https://feedsoft.ai/events/61310-yuan-strengthens-as-fed-holds-interest-rates-steady-caixin-global.md) | +0.5% | -0.1% |
| USDCNY | 2026-05-22 | [Analysis: Where Is the Strengthening Yuan Headed? - Caixin Global](https://feedsoft.ai/events/19489-analysis-where-is-the-strengthening-yuan-headed-caixin-global.md) | -0.5% | -0.4% |
| USDCNY | 2026-05-18 | [Global banks raise yuan forecasts, fuelled by China's export strength and stable US ties \| Reuters](https://feedsoft.ai/events/19487-global-banks-raise-yuan-forecasts-fuelled-by-china-s-export-strength-and-stable.md) | -0.2% | -0.8% |
| USDCNY | 2024-09-30 | [Analysis: Improved Capital Returns Key to Sustainable Yuan Strengthening - Caixin Global](https://feedsoft.ai/events/28555-analysis-improved-capital-returns-key-to-sustainable-yuan-strengthening-caixin.md) | +0.1% | +1.6% |
| USDCNY | 2024-08-23 | [After battle with yuan bears, China is now keen to avoid sharp currency gains](https://feedsoft.ai/events/29022-after-battle-with-yuan-bears-china-is-now-keen-to-avoid-sharp-currency-gains.md) | -0.7% | -1.3% |

## Sources

- caixinglobal.com: https://www.caixinglobal.com/2016-12-30/yuan-strengthens-after-china-announces-plans-to-expand-currency-basket-101032215.html

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