# China's Yuan Hits Seven-Month Low As Dollar Outflows Persist - Finimize

> The yuan slipped to a seven-month low against the dollar and is on track for a sixth monthly decline amid persistent capital outflows. The PBOC has set weaker daily fixings for seven straight sessions, which suggests it may tolerate further depreciation.

- Date: 2024-06-27 · published 2024-06-27T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/30009-china-s-yuan-hits-seven-month-low-as-dollar-outflows-persist-finimize
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

Persistent yuan depreciation raises China's dollar-denominated import costs, which can slow feed buying and weigh on global grain and oilseed prices.

## Read by commodity

- USDCNY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2024-05-30 | [Yuan Hits Six-Month Low Amid Dollar Surge - Finimize](https://feedsoft.ai/events/30493-yuan-hits-six-month-low-amid-dollar-surge-finimize.md) | -0.0% | +0.3% |
| USDCNY | 2022-04-21 | [China's yuan slides to 6-month low as tightening prospects help dollar \| Financial Post](https://feedsoft.ai/events/7337-china-s-yuan-slides-to-6-month-low-as-tightening-prospects-help-dollar.md) | +2.2% | +5.2% |
| USDCNY | 2016-11-14 | [Chinese yuan tumbles to a seven-year low as dollar surges \| South China Morning Post](https://feedsoft.ai/events/7742-chinese-yuan-tumbles-to-a-seven-year-low-as-dollar-surges-south-china-morning.md) | +1.3% | +1.6% |
| USDCNY | 2018-07-30 | [China's yuan hits 13-month low on weaker fixing and depreciation bets](https://feedsoft.ai/events/64266-china-s-yuan-hits-13-month-low-on-weaker-fixing-and-depreciation-bets.md) | +0.3% | -0.1% |
| USDCNY | 2023-06-13 | [China cuts key policy rate as post-Covid recovery fizzles; yuan hits 6-month low](https://feedsoft.ai/events/35715-china-cuts-key-policy-rate-as-post-covid-recovery-fizzles-yuan-hits-6-month-low.md) | +0.5% | +0.3% |

## Sources

- finimize.com: https://finimize.com/content/chinas-yuan-hits-seven-month-low-as-dollar-outflows-persist

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