# China expands CFETS index basket, yuan seen weakening vs. dollar By Reuters

> China will expand the CFETS RMB Index basket from 13 to 24 currencies starting January 1, the foreign exchange market operator said. The yuan has fallen almost 7 percent against the dollar this year and is near an 8.5-year low.

- Date: 2016-12-29 · published 2016-12-29T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/73681-china-expands-cfets-index-basket-yuan-seen-weakening-vs-dollar-by-reuters
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

Analysts expect the yuan to keep weakening against the dollar in 2017, which raises the dollar cost of Chinese imports of feed ingredients.

## Read by commodity

- USDCNY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2024-04-16 | [China's cycle of dollar hoarding and weakening yuan gets vicious](https://feedsoft.ai/events/30951-china-s-cycle-of-dollar-hoarding-and-weakening-yuan-gets-vicious.md) | +0.0% | -0.1% |
| USDCNY | 2017-03-09 | [China's yuan weakens, prompting dollar sales by state banks](https://feedsoft.ai/events/72221-china-s-yuan-weakens-prompting-dollar-sales-by-state-banks.md) | +0.0% | -0.3% |
| USDCNY | 2024-01-19 | [China’s yuan set to weaken for a third week against rebounding dollar - Markets - Business Recorder](https://feedsoft.ai/events/32358-china-s-yuan-set-to-weaken-for-a-third-week-against-rebounding-dollar-markets.md) | -0.4% | -0.0% |
| USDCNY | 2016-06-27 | [China Weakens Yuan Fixing by Most Since August as Dollar Surges - Bloomberg](https://feedsoft.ai/events/12454-china-weakens-yuan-fixing-by-most-since-august-as-dollar-surges-bloomberg.md) | +0.6% | +1.0% |
| USDCNY | 2018-10-29 | [China's yuan finishes onshore trading at weakest since 2008 By Reuters](https://feedsoft.ai/events/62763-china-s-yuan-finishes-onshore-trading-at-weakest-since-2008-by-reuters.md) | -0.8% | +0.1% |

## Sources

- investing.com: https://www.investing.com/news/economy-news/china-changes-cfets-currency-basket-for-calculating-yuan-index:-operator-450320

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