# China Sept forex outflows hit $75 bln, biggest since 2016 - Goldman

> Capital outflows from China reached $75 billion in September, the largest monthly figure since 2016, according to Goldman Sachs' preferred gauge of FX flows. The yuan has fallen more than 5.5% against the dollar this year amid a weak economy and a widening yield gap with the US.

- Date: 2023-10-23 · published 2023-10-23T12:00:00.000Z
- Category: macro · region China · magnitude medium
- Page: https://feedsoft.ai/events/33856-china-sept-forex-outflows-hit-75-bln-biggest-since-2016-goldman
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

Heavy capital outflows add depreciation pressure on the yuan, which makes dollar-priced Chinese imports of feed ingredients more expensive. Persistent weakness could also dampen Chinese demand for imported commodities.

## Read by commodity

- USDCNY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2016-12-19 | [China outflows rising in both yuan payments, forex: Goldman Sachs - The Business Times](https://feedsoft.ai/events/73698-china-outflows-rising-in-both-yuan-payments-forex-goldman-sachs-the-business.md) | -0.2% | -1.8% |
| USDCNY | 2022-12-30 | [FXNEWS24 \|China's yuan set for biggest yearly loss since 1994 \| UK Forex Reviews](https://feedsoft.ai/events/12766-fxnews24-china-s-yuan-set-for-biggest-yearly-loss-since-1994-uk-forex-reviews.md) | -1.8% | -3.1% |
| USDCNY | 2021-06-15 | [China approves highest-ever outflows for mainland investors](https://feedsoft.ai/events/7117-china-approves-highest-ever-outflows-for-mainland-investors.md) | +1.1% | +1.1% |
| USDCNY | 2024-06-27 | [China's Yuan Hits Seven-Month Low As Dollar Outflows Persist - Finimize](https://feedsoft.ai/events/30009-china-s-yuan-hits-seven-month-low-as-dollar-outflows-persist-finimize.md) | +0.0% | -0.5% |
| USDCNY | 2024-11-07 | [CNY/USD: China Sets Yuan Fix at Weakest Since 2023 - Bloomberg](https://feedsoft.ai/events/6857-cny-usd-china-sets-yuan-fix-at-weakest-since-2023-bloomberg.md) | +0.7% | +1.3% |

## Sources

- reuters.com: https://www.reuters.com/article/markets/china-sept-forex-outflows-hit-75-bln-biggest-since-2016-goldman-idUSL1N3BT0C5/

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