# Yuan near five-month low against dollar - Business & Finance - Business Recorder

> China's yuan hovered near a five-month low of 7.2478 per dollar on April 29, pressured by higher US Treasury yields, a weak yen and outflows from the stock market. The People's Bank of China set a firmer-than-expected midpoint to slow the decline.

- Date: 2024-04-28 · published 2024-04-28T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/30954-yuan-near-five-month-low-against-dollar-business-and-finance-business-recorder
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A persistently weak yuan raises the cost of dollar-denominated feed imports for Chinese buyers, which can dampen import demand for soybeans and meal at the margin.

## Read by commodity

- USDCNY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2023-05-31 | [Dollar higher - Business & Finance - Business Recorder](https://feedsoft.ai/events/36152-dollar-higher-business-and-finance-business-recorder.md) | +0.6% | +2.3% |
| USDCNY | 2022-09-23 | [China’s yuan ends near 28-month low, set for worst week since April - Markets - Business Recorder](https://feedsoft.ai/events/8606-china-s-yuan-ends-near-28-month-low-set-for-worst-week-since-april-markets.md) | +0.6% | +2.3% |
| USDCNY | 2024-03-27 | [Asian currencies at multi-month lows against US dollar; stocks mixed - Markets - Business Recorder](https://feedsoft.ai/events/31453-asian-currencies-at-multi-month-lows-against-us-dollar-stocks-mixed-markets.md) | +0.2% | +0.4% |
| 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 | 2024-01-19 | [China’s yuan set to weaken for a third week against rebounding dollar - Markets - Business Recorder](https://feedsoft.ai/events/32358-china-s-yuan-set-to-weaken-for-a-third-week-against-rebounding-dollar-markets.md) | -0.4% | -0.0% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40300737

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