# China Yuan Slumps to Near-Two-Year Low Against USD as Rate Differential Widens - Bloomberg

> The onshore and offshore yuan fell to their weakest levels since September 2020 after an unexpected PBOC rate cut earlier that week. The selloff accelerated as the dollar surged and interest rate differentials widened.

- Date: 2022-08-19 · published 2022-08-19T12:00:00.000Z
- Category: macro · region China · magnitude medium
- Page: https://feedsoft.ai/events/40262-china-yuan-slumps-to-near-two-year-low-against-usd-as-rate-differential-widens
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

A sharp yuan slide raises China's cost of dollar-priced grain and oilseed imports and can dent Chinese demand, which is bearish for global feed ingredient prices.

## Read by commodity

- SOY: bearish ▼
- USDCNY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2024-12-03 | [CNY/USD: China’s Yuan Falls to One-Year Low on Tariff Risk, Dollar Gains - Bloomberg](https://feedsoft.ai/events/27168-cny-usd-china-s-yuan-falls-to-one-year-low-on-tariff-risk-dollar-gains-bloomberg.md) | -0.2% | +0.4% |
| USDCNY | 2022-09-29 | [CNY/USD: Why China’s Yuan Hit Record Lows Against the Dollar - Bloomberg](https://feedsoft.ai/events/7207-cny-usd-why-china-s-yuan-hit-record-lows-against-the-dollar-bloomberg.md) | -1.2% | +0.3% |
| USDCNY | 2016-11-10 | [Donald Trump's win in US presidential election sends China yuan to six-year low against dollar](https://feedsoft.ai/events/7740-donald-trump-s-win-in-us-presidential-election-sends-china-yuan-to-six-year-low.md) | +1.3% | +1.9% |
| USDCNY | 2024-01-04 | [China’s yuan eases against the dollar on widening yield differential - The Pound Hub](https://feedsoft.ai/events/11843-china-s-yuan-eases-against-the-dollar-on-widening-yield-differential-the-pound.md) | +0.3% | +0.4% |
| USDCNY | 2022-09-28 | [China's yuan slides to 14-year low after US rate hikes \| AP News](https://feedsoft.ai/events/8604-china-s-yuan-slides-to-14-year-low-after-us-rate-hikes-ap-news.md) | -0.9% | -0.1% |
| SOY | 2022-09-29 | [CNY/USD: Why China’s Yuan Hit Record Lows Against the Dollar - Bloomberg](https://feedsoft.ai/events/7207-cny-usd-why-china-s-yuan-hit-record-lows-against-the-dollar-bloomberg.md) | -2.8% | -1.9% |
| SOY | 2020-03-05 | [Brazilian Real (BRL USD) Plunges to Record Low as Rate Cut Seen - Bloomberg](https://feedsoft.ai/events/9274-brazilian-real-brl-usd-plunges-to-record-low-as-rate-cut-seen-bloomberg.md) | -3.4% | -4.0% |
| SOY | 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) | +1.0% | -0.1% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2022-08-19/yuan-slumps-to-almost-two-year-low-as-rate-differential-widens

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