# China's yuan dips to 7-month low on lack of stimulus news, dollar strength | The Business Standard

> The yuan weakened to a seven-month low past 7.2 per dollar on Wednesday as disappointment over the lack of stimulus and broad dollar strength weighed on the currency. The PBOC set its midpoint fix weaker than expected at 7.1795, and the market closed for the Dragon Boat holiday.

- Date: 2023-06-21 · published 2023-06-21T12:00:00.000Z
- Category: macro · region China · magnitude medium
- Page: https://feedsoft.ai/events/11236-china-s-yuan-dips-to-7-month-low-on-lack-of-stimulus-news-dollar-strength-the
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

The weaker yuan and wider US-China rate differential reflect slowing Chinese demand and a stronger dollar, which can weigh on Chinese imports of feed commodities. The move is mainly a currency development.

## Read by commodity

- USDCNY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2017-10-26 | [China's yuan weakens on US dollar strength, set for 2nd weekly loss - The Business Times](https://feedsoft.ai/events/68677-china-s-yuan-weakens-on-us-dollar-strength-set-for-2nd-weekly-loss-the-business.md) | -0.5% | -0.5% |
| USDCNY | 2024-05-29 | [Chinese yuan falls to six-month low on dollar strength - Nikkei Asia](https://feedsoft.ai/events/30488-chinese-yuan-falls-to-six-month-low-on-dollar-strength-nikkei-asia.md) | -0.1% | +0.3% |
| USDCNY | 2023-03-08 | [China's yuan weakens to 2-month low, with key 7-per-dollar level in sight  - The Business Times](https://feedsoft.ai/events/37091-china-s-yuan-weakens-to-2-month-low-with-key-7-per-dollar-level-in-sight-the.md) | -1.3% | -1.2% |
| USDCNY | 2017-04-25 | [China's yuan dips against US dollar, falls to record low against currency basket - The Business Times](https://feedsoft.ai/events/71709-china-s-yuan-dips-against-us-dollar-falls-to-record-low-against-currency-basket.md) | +0.1% | -0.0% |
| USDCNY | 2021-03-24 | [China's yuan slips on dollar strength, Sino-West tensions - Markets - Business Recorder](https://feedsoft.ai/events/48336-china-s-yuan-slips-on-dollar-strength-sino-west-tensions-markets-business.md) | +0.9% | -0.3% |

## Sources

- tbsnews.net: https://www.tbsnews.net/economy/stocks/chinas-yuan-dips-7-month-low-lack-stimulus-news-dollar-strength-653566

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