# Yuan Rallies Most in 10 Months as PBOC Strengthens Fix Into NPC - Bloomberg

> The yuan rallied as much as 0.5% to 6.8750 per dollar after the People's Bank of China strengthened its daily reference rate by the most since August. The move signaled Beijing's comfort with currency appreciation ahead of the National People's Congress.

- Date: 2026-03-03 · published 2026-03-03T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/9161-yuan-rallies-most-in-10-months-as-pboc-strengthens-fix-into-npc-bloomberg
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A stronger yuan lowers the yuan cost of dollar-priced imports and can make Chinese buyers less aggressive on US commodities at the margin. The effect on feed-ingredient prices is modest and indirect.

## Read by commodity

- USDCNY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2018-02-08 | [Yuan strengthens as investors move currency into country](https://feedsoft.ai/events/7103-yuan-strengthens-as-investors-move-currency-into-country.md) | +1.3% | +1.2% |
| USDCNY | 2017-08-10 | [China’s yuan strengthens to 10-month high against US dollar](https://feedsoft.ai/events/69675-china-s-yuan-strengthens-to-10-month-high-against-us-dollar.md) | +0.3% | -2.8% |
| 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 | 2019-10-29 | [PBOC set the onshore yuan at its strongest in 2 months](https://feedsoft.ai/events/56809-pboc-set-the-onshore-yuan-at-its-strongest-in-2-months.md) | -0.5% | -0.5% |
| USDCNY | 2017-05-31 | [Yuan Surges in Hong Kong as Traders See PBOC Squeezing Bears - Bloomberg](https://feedsoft.ai/events/5664-yuan-surges-in-hong-kong-as-traders-see-pboc-squeezing-bears-bloomberg.md) | -0.8% | -0.6% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2026-03-03/yuan-rallies-most-in-10-months-as-pboc-strengthens-currency-fix

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