# China's overnight onshore dollar/yuan swap points fall to lowest level since 2007 | Financial Post

> China's onshore dollar/yuan overnight swap points fell to -60, the lowest since 2007, as traders scrambled for dollars to meet quarter-end requirements. The tomorrow-next contract also hit its weakest level since September 2019.

- Date: 2020-03-30 · published 2020-03-30T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/54321-china-s-overnight-onshore-dollar-yuan-swap-points-fall-to-lowest-level-since
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

Tight dollar funding in China signals stress in import financing, which could slow purchases of commodities priced in dollars, though the effect is primarily quarter-end and technical.

## Read by commodity

- USDCNY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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 | 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 | 2022-05-16 | [Dollar slips from 2-decade highs; yuan falls on weak China data \| Financial Post](https://feedsoft.ai/events/9858-dollar-slips-from-2-decade-highs-yuan-falls-on-weak-china-data-financial-post.md) | -1.4% | -0.5% |
| USDCNY | 2021-10-28 | [China's yuan briefly crosses key 6.4/dlr level to hit 1-week low \| Financial Post](https://feedsoft.ai/events/44774-china-s-yuan-briefly-crosses-key-6-4-dlr-level-to-hit-1-week-low-financial-post.md) | +0.2% | +0.0% |
| USDCNY | 2021-04-01 | [China's yuan dips as Biden infrastructure plan lifts dollar \| Financial Post](https://feedsoft.ai/events/47817-china-s-yuan-dips-as-biden-infrastructure-plan-lifts-dollar-financial-post.md) | -0.2% | -1.1% |

## Sources

- financialpost.com: https://financialpost.com/pmn/business-pmn/chinas-overnight-onshore-dollar-yuan-swap-points-fall-to-lowest-level-since-2007

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