# China’s yuan rebounds, but looks set for a losing month - Markets - Business Recorder

> China's yuan rebounded from a near seven-week low against the dollar on Friday as exporters converted dollar holdings ahead of a long holiday. The PBOC set the midpoint at 6.924 per dollar, the weakest since March 13, though the yuan is still on track for a monthly loss.

- Date: 2023-04-28 · published 2023-04-28T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/36604-china-s-yuan-rebounds-but-looks-set-for-a-losing-month-markets-business-recorder
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A weaker yuan makes Chinese purchases of dollar-priced feed ingredients costlier, which can dampen import demand and pressure soybean and meal prices. The effect on prices is modest given routine currency moves.

## Read by commodity

- USDCNY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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 | 2024-01-19 | [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% |
| USDCNY | 2026-03-31 | [Chinese yuan heads for first monthly loss since July - Markets - Business Recorder](https://feedsoft.ai/events/20385-chinese-yuan-heads-for-first-monthly-loss-since-july-markets-business-recorder.md) | -0.5% | -1.3% |
| USDCNY | 2021-08-31 | [Yuan slips on signs of China slowdown, set for 3rd month of decline - Markets - Business Recorder](https://feedsoft.ai/events/45781-yuan-slips-on-signs-of-china-slowdown-set-for-3rd-month-of-decline-markets.md) | +0.0% | -0.1% |
| USDCNY | 2025-09-26 | [China’s yuan touches 3-week low, looks set for biggest weekly drop since July - Markets - Business Recorder](https://feedsoft.ai/events/23111-china-s-yuan-touches-3-week-low-looks-set-for-biggest-weekly-drop-since-july.md) | -0.2% | -0.2% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40239363

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