# Yuan (CNY USD) Drops to Key 7.2 Level on Slow Stimulus, PBOC Greenlight - Bloomberg

> The offshore yuan fell past the 7.2-per-dollar level, reaching 7.2007 on Wednesday, its weakest since November. The decline followed a lack of aggressive stimulus from Chinese authorities, and Chinese equities also fell.

- Date: 2023-06-21 · published 2023-06-21T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/11231-yuan-cny-usd-drops-to-key-7-2-level-on-slow-stimulus-pboc-greenlight-bloomberg
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

Yuan weakness reflects doubts about China's growth recovery, which could temper demand for imported feed commodities. The move mainly affects currency markets.

## Read by commodity

- USDCNY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2022-10-25 | [China’s Yuan CNY USD Drops as PBOC Sets Fix at Weakest Level in 14 Years - Bloomberg](https://feedsoft.ai/events/6933-china-s-yuan-cny-usd-drops-as-pboc-sets-fix-at-weakest-level-in-14-years.md) | +0.6% | -1.7% |
| USDCNY | 2024-12-03 | [CNY/USD: China’s Yuan Falls to One-Year Low on Tariff Risk, Dollar Gains - Bloomberg](https://feedsoft.ai/events/27168-cny-usd-china-s-yuan-falls-to-one-year-low-on-tariff-risk-dollar-gains-bloomberg.md) | -0.2% | +0.4% |
| USDCNY | 2022-10-24 | [CNY/USD: China Yuan Weakens Past 7.3 Per Dollar, All-Time Low Since 2010 - Bloomberg](https://feedsoft.ai/events/6932-cny-usd-china-yuan-weakens-past-7-3-per-dollar-all-time-low-since-2010-bloomberg.md) | +0.1% | -1.0% |
| USDCNY | 2023-08-22 | [Wall Street Sees No End to Yuan (CNY USD) Losses Despite China Pushback - Bloomberg](https://feedsoft.ai/events/34805-wall-street-sees-no-end-to-yuan-cny-usd-losses-despite-china-pushback-bloomberg.md) | +0.0% | +0.1% |
| USDCNY | 2022-08-29 | [China's Yuan Drops Below Key 6.9 USD Mark on Fed Rate Stance](https://feedsoft.ai/events/40260-china-s-yuan-drops-below-key-6-9-usd-mark-on-fed-rate-stance.md) | +0.4% | +3.9% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2023-06-21/yuan-drops-to-key-7-2-level-on-slow-stimulus-pboc-s-greenlight

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