# "Yuan" weakens, reaching the lowest level in 6 months, worried about the Chinese economic slowdown - the Bank of Thailand will not intervene - Money & Banking Magazine

> The yuan fell to its weakest level in about six months against the dollar on concerns over China's post-COVID slowdown. The PBOC set a weaker midpoint and did not intervene directly to stop the decline, which investors read as tolerance for further weakening. Disappointing April economic data was cited as the cause.

- Date: 2023-05-30 · published 2023-05-30T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/36185-yuan-weakens-reaching-the-lowest-level-in-6-months-worried-about-the-chinese
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A weaker yuan raises the dollar cost of commodity imports for China and can dampen purchases of feed grains and meal. The PBOC's tolerance suggests the move may continue if growth stays soft.

## Read by commodity

- USDCNY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2022-12-06 | [Will the Chinese yuan fall with the economy? \| IG Bank Switzerland](https://feedsoft.ai/events/6580-will-the-chinese-yuan-fall-with-the-economy-ig-bank-switzerland.md) | +0.2% | -1.1% |
| 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 | 2020-02-20 | [Breaking: The People's Bank of China cut interest rates: AUD and Yuan sliding — Octa](https://feedsoft.ai/events/54798-breaking-the-people-s-bank-of-china-cut-interest-rates-aud-and-yuan-sliding-octa.md) | +0.3% | +0.7% |
| USDCNY | 2024-12-03 | [China’s yuan hits lowest level in months as Trump tariff threats roil currencies \| South China Morning Post](https://feedsoft.ai/events/27171-china-s-yuan-hits-lowest-level-in-months-as-trump-tariff-threats-roil.md) | -0.2% | +0.4% |
| USDCNY | 2020-04-16 | [Chinese Yuan Weakens As PBoC Pumps More Liquidity Into Economy](https://feedsoft.ai/events/53877-chinese-yuan-weakens-as-pboc-pumps-more-liquidity-into-economy.md) | +0.2% | +0.3% |

## Sources

- en.moneyandbanking.co.th: https://en.moneyandbanking.co.th/2023/41441/

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