# China’s yuan slips against US dollar after Beijing taps financial tools to cool exchange rate | South China Morning Post

> The yuan slipped against the dollar on June 3 after Beijing used new tools, including higher reserve requirements on foreign exchange deposits and a large batch of QDII outbound investment quotas, to slow its rise. The yuan had strengthened sharply as the dollar weakened and capital flowed into China.

- Date: 2021-06-03 · published 2021-06-03T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/46816-china-s-yuan-slips-against-us-dollar-after-beijing-taps-financial-tools-to-cool
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

Currency management aimed at slowing yuan appreciation signals Beijing's preference for a steadier exchange rate, which has limited direct effect on feed commodity prices.

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2016-11-28 | [China’s central bank talks up the yuan against US dollar ‘uncertainties’ \| South China Morning Post](https://feedsoft.ai/events/74062-china-s-central-bank-talks-up-the-yuan-against-us-dollar-uncertainties-south.md) | -0.5% | +0.4% |
| USDCNY | 2026-03-02 | [Can China’s roaring trade engine power the yuan’s challenge to the US dollar? \| South China Morning Post](https://feedsoft.ai/events/9163-can-china-s-roaring-trade-engine-power-the-yuan-s-challenge-to-the-us-dollar.md) | +0.6% | +0.8% |
| USDCNY | 2018-02-09 | [China says yuan no longer a one-way bet as currency slides against US dollar \| South China Morning Post](https://feedsoft.ai/events/66717-china-says-yuan-no-longer-a-one-way-bet-as-currency-slides-against-us-dollar.md) | +0.3% | +0.1% |
| USDCNY | 2020-08-28 | [Why the yuan could soon shake off its sluggishness against the US dollar \| South China Morning Post](https://feedsoft.ai/events/51839-why-the-yuan-could-soon-shake-off-its-sluggishness-against-the-us-dollar-south.md) | -0.7% | -1.0% |
| USDCNY | 2021-06-03 | [US-China economic talks put spotlight on yuan exchange rate as currency continues to surge \| South China Morning Post](https://feedsoft.ai/events/46818-us-china-economic-talks-put-spotlight-on-yuan-exchange-rate-as-currency.md) | +0.1% | +1.2% |

## Sources

- scmp.com: https://www.scmp.com/economy/china-economy/article/3135919/chinas-yuan-slips-against-us-dollar-after-beijing-taps

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