# Yuan depreciates, breaches key support

> The yuan broke below the 7.10 level it had held within since March 18, reaching 7.1271 per dollar. The PBoC set its central parity rate at 7.0995, the weakest since March 24. The article suggests the move signals the government judges monetary support for the economy still necessary.

- Date: 2020-04-02 · published 2020-04-02T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/53883-yuan-depreciates-breaches-key-support
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

Further yuan weakness raises the cost of dollar-priced grain and oilseed imports for China, a major buyer, and could temper near-term feed purchases.

## Read by commodity

- USDCNY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2025-02-27 | [China steps up scrutiny of capital flows as yuan depreciates](https://feedsoft.ai/events/26288-china-steps-up-scrutiny-of-capital-flows-as-yuan-depreciates.md) | -0.1% | +0.1% |
| USDCNY | 2018-05-30 | [Why we’re forecasting the yuan to depreciate \| articles \| ING THINK](https://feedsoft.ai/events/65232-why-we-re-forecasting-the-yuan-to-depreciate-articles-ing-think.md) | -0.2% | +2.5% |
| USDCNY | 2024-03-27 | [As yuan skids, markets bet more depreciation is in store \| Reuters](https://feedsoft.ai/events/31440-as-yuan-skids-markets-bet-more-depreciation-is-in-store-reuters.md) | +0.2% | +0.4% |
| USDCNY | 2019-05-31 | [What happens if the Chinese yuan breaches the 7 to the US dollar](https://feedsoft.ai/events/59276-what-happens-if-the-chinese-yuan-breaches-the-7-to-the-us-dollar.md) | +0.1% | -0.4% |
| USDCNY | 2024-05-01 | [Yuan falls out of favour with China’s exporters as fears of depreciation mount](https://feedsoft.ai/events/30957-yuan-falls-out-of-favour-with-china-s-exporters-as-fears-of-depreciation-mount.md) | -0.3% | +0.1% |

## Sources

- asiafinancial.com: https://www.asiafinancial.com/yuan-depreciates-breaches-key-support

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