# China's yuan briefly crosses key 6.4/dlr level to hit 1-week low | Financial Post

> China's yuan briefly weakened past the 6.4 per dollar level on Thursday to its weakest since October 20, as corporates and banks bought dollars. Renewed US-China tensions and worries about Chinese property developers' debt weighed on the currency.

- Date: 2021-10-28 · published 2021-10-28T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/44774-china-s-yuan-briefly-crosses-key-6-4-dlr-level-to-hit-1-week-low-financial-post
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A weaker yuan modestly lowers the cost of Chinese imports priced in dollars, but the move is small and has little direct effect on feed grain or meal prices.

## Read by commodity

- USDCNY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2022-04-21 | [China's yuan slides to 6-month low as tightening prospects help dollar \| Financial Post](https://feedsoft.ai/events/7337-china-s-yuan-slides-to-6-month-low-as-tightening-prospects-help-dollar.md) | +2.2% | +5.2% |
| USDCNY | 2020-03-30 | [China's overnight onshore dollar/yuan swap points fall to lowest level since 2007 \| Financial Post](https://feedsoft.ai/events/54321-china-s-overnight-onshore-dollar-yuan-swap-points-fall-to-lowest-level-since.md) | -0.0% | -0.2% |
| USDCNY | 2020-02-20 | [Yuan falls to over 2-month low as China cuts lending benchmark \| Financial Post](https://feedsoft.ai/events/54795-yuan-falls-to-over-2-month-low-as-china-cuts-lending-benchmark-financial-post.md) | +0.3% | +0.7% |
| 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 | 2023-06-13 | [China cuts key policy rate as post-Covid recovery fizzles; yuan hits 6-month low](https://feedsoft.ai/events/35715-china-cuts-key-policy-rate-as-post-covid-recovery-fizzles-yuan-hits-6-month-low.md) | +0.5% | +0.3% |

## Sources

- financialpost.com: https://financialpost.com/pmn/business-pmn/chinas-yuan-briefly-crosses-key-6-4-dlr-level-to-hit-1-week-low

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