# China's silence on yuan's swift gains keeps markets buzzing

> The yuan made swift gains in October 2021 while the PBOC stayed silent on the move. Analysts said the central bank may be tolerating the appreciation because of a large stock of dollar deposits in the banking system. Markets remained focused on the central bank's intentions.

- Date: 2021-10-21 · published 2021-10-21T12:00:00.000Z
- Category: policy · region China · magnitude low
- Page: https://feedsoft.ai/events/7482-china-s-silence-on-yuan-s-swift-gains-keeps-markets-buzzing
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A PBOC that accepts yuan strength reduces the cost of dollar-priced imports for Chinese buyers. The effect on grain and feed prices is limited but relevant for import-demand expectations.

## Read by commodity

- USDCNY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2024-12-19 | [China's central bank offers strongest yuan support since July after dollar gains](https://feedsoft.ai/events/27167-china-s-central-bank-offers-strongest-yuan-support-since-july-after-dollar-gains.md) | +0.2% | +0.5% |
| USDCNY | 2022-08-25 | [Dollar Vs. Yuan: China Acts to Prop up Faltering Currency With Strong Fix - Markets Insider](https://feedsoft.ai/events/40264-dollar-vs-yuan-china-acts-to-prop-up-faltering-currency-with-strong-fix-markets.md) | +0.5% | +3.2% |
| USDCNY | 2017-08-30 | [China Sets Yuan Midpoint Against Dollar at One-Year High   - Caixin Global](https://feedsoft.ai/events/10857-china-sets-yuan-midpoint-against-dollar-at-one-year-high-caixin-global.md) | -1.1% | +0.7% |
| USDCNY | 2022-09-06 | [China’s yuan rebounds from 2-year low after PBOC cuts FX reserve ratio - Markets - Business Recorder](https://feedsoft.ai/events/12271-china-s-yuan-rebounds-from-2-year-low-after-pboc-cuts-fx-reserve-ratio-markets.md) | +0.4% | +3.1% |
| USDCNY | 2022-09-06 | [Why China's central bank is shoring up the yuan](https://feedsoft.ai/events/12268-why-china-s-central-bank-is-shoring-up-the-yuan.md) | +0.4% | +3.1% |

## Sources

- reuters.com: https://www.reuters.com/business/finance/chinas-silence-yuans-swift-gains-keeps-markets-buzzing-2021-10-21/

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