◂ Event Timeline

Nov 4, 2026POLICYChina

Yuan's retreat continues after China's reserve-policy shift

The offshore yuan weakened after the PBOC announced on 3 November that the foreign-currency deposit reserve ratio will rise from 4% to 6% on 15 November. Onshore the yuan touched a two-week low of 6.6832 and the midpoint was 6.7180.

WHY IT MATTERS

Tighter foreign-currency reserve requirements reduce dollar liquidity and can weaken the yuan, raising the dollar cost of Chinese feed imports. The impact on grain prices is small.

AFFECTSChinese Yuan (CNY per USD)▼

SOURCE
fxnews.aiFXNews News DeskNov 4, 2026

Price reaction & history

Chinese Yuan (CNY per USD)▼bearish

After 50 past bearish policy events, Chinese Yuan (CNY per USD) moved a median -0.1% over 5 sessions (46% higher; middle half -0.4% to +0.4%), and -0.0% over 20.

Sep 6, 2022China’s yuan rebounds from 2-year low after PBOC cuts FX reserve ratio - Markets - Business Recorder+0.4%
Sep 26, 2022China acts to rein in yuan slump, poised to raise FX risk reserve ratio By Reuters-0.2%
Apr 26, 2022China cuts banks’ FX reserve ratio to support yuan - Business & Finance - Business Recorder+0.8%
Sep 10, 2017China's yuan slips, rally pauses after relaxation of FX outflow curbs - The Business Times+1.1%
Sep 5, 2022China c.bank to cut FX reserve ratio to help limit yuan weakness+0.4%

Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.

Chinese Yuan (CNY per USD) USDCNY · GP ▸

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