# Asian currencies: Chinese yuan, Hong Kong dollar weaken as China stocks fall

> The offshore yuan weakened nearly 1% against the dollar in the week to July 28, falling to 6.528 at its low, and the Hong Kong dollar also hit its weakest level since April. The selloff followed Beijing's tighter restrictions on education firms and its continued crackdown on internet companies.

- Date: 2021-07-28 · published 2021-07-28T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/46285-asian-currencies-chinese-yuan-hong-kong-dollar-weaken-as-china-stocks-fall
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

Yuan weakness driven by regulatory stress and capital outflows reduces the purchasing power of Chinese importers for feed commodities. Analysts expect further weakness, which could dampen import demand.

## Read by commodity

- USDCNY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2024-10-08 | [China’s yuan falls against strong dollar, stocks surge after holiday](https://feedsoft.ai/events/11039-china-s-yuan-falls-against-strong-dollar-stocks-surge-after-holiday.md) | +1.4% | +1.2% |
| USDCNY | 2017-03-09 | [China's yuan weakens, prompting dollar sales by state banks](https://feedsoft.ai/events/72221-china-s-yuan-weakens-prompting-dollar-sales-by-state-banks.md) | +0.0% | -0.3% |
| USDCNY | 2018-07-30 | [China's falling yuan stokes currency tensions](https://feedsoft.ai/events/64267-china-s-falling-yuan-stokes-currency-tensions.md) | +0.3% | -0.1% |
| USDCNY | 2024-05-29 | [Chinese yuan falls to six-month low on dollar strength - Nikkei Asia](https://feedsoft.ai/events/30488-chinese-yuan-falls-to-six-month-low-on-dollar-strength-nikkei-asia.md) | -0.1% | +0.3% |
| USDCNY | 2020-05-28 | [The Chinese yuan could weaken to 7.40 per dollar amid US-China tensions](https://feedsoft.ai/events/53379-the-chinese-yuan-could-weaken-to-7-40-per-dollar-amid-us-china-tensions.md) | -0.8% | -1.3% |

## Sources

- cnbc.com: https://www.cnbc.com/2021/07/28/asian-currencies-chinese-yuan-hong-kong-dollar-weaken-as-china-stocks-fall.html

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