# Chinese yuan weakens to 7.0808 against USD Monday_Xinhua Finance Agency

> The PBOC set the yuan's central parity rate at 7.0808 per US dollar, weakening it by 253 pips on June 29, 2020. The yuan may trade within 2 percent of the central parity rate each day.

- Date: 2020-06-29 · published 2020-06-29T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/52827-chinese-yuan-weakens-to-7-0808-against-usd-monday-xinhua-finance-agency
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A weaker yuan modestly makes US farm imports pricier for Chinese buyers, a minor headwind for US feed and grain demand, though the move is small and routine.

## Read by commodity

- USDCNY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2019-12-09 | [Chinese yuan weakens to 7.0405 against USD Monday_Xinhua Finance Agency](https://feedsoft.ai/events/8446-chinese-yuan-weakens-to-7-0405-against-usd-monday-xinhua-finance-agency.md) | -0.6% | -1.3% |
| USDCNY | 2017-08-25 | [Chinese yuan weakens to 6.6579 against USD Friday - Chinadaily.com.cn](https://feedsoft.ai/events/10858-chinese-yuan-weakens-to-6-6579-against-usd-friday-chinadaily-com-cn.md) | -1.1% | -1.1% |
| USDCNY | 2018-06-28 | [Chinese yuan hits fresh low against USD Wednesday](https://feedsoft.ai/events/64734-chinese-yuan-hits-fresh-low-against-usd-wednesday.md) | +0.5% | +2.8% |
| 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% |
| USDCNY | 2021-07-28 | [【Financial Str. Release】Chinese yuan weakens to nearly 4M low amid rising risk aversion sentiment Tue. - Xinhua Silk Road](https://feedsoft.ai/events/46287-financial-str-release-chinese-yuan-weakens-to-nearly-4m-low-amid-rising-risk.md) | -0.6% | -0.6% |

## Sources

- en.xfafinance.com: http://en.xfafinance.com/html/Markets/Currencies/2020/577392.shtml
- en.xfafinance.com: http://en.xfafinance.com/html/Markets/Currencies/2020/578002.shtml

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