# China’s Yuan CNY USD Drops as PBOC Sets Fix at Weakest Level in 14 Years - Bloomberg

> The yuan traded in Shanghai at 7.31 per dollar, its weakest since December 2007, after the PBOC set the daily fixing at a 14-year low. The yuan also fell to its lowest level in over a year against a basket of trading partners' currencies.

- Date: 2022-10-25 · published 2022-10-25T12:00:00.000Z
- Category: macro · region China · magnitude medium
- Page: https://feedsoft.ai/events/6933-china-s-yuan-cny-usd-drops-as-pboc-sets-fix-at-weakest-level-in-14-years
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A weaker yuan against a broad basket makes imports from other suppliers relatively cheaper for China, while dollar-priced US feed ingredients become more costly and less competitive.

## Read by commodity

- USDCNY: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| USDCNY | 2022-10-26 | 1 | -1.3% | -4.6 | The PBOC fixing at a 14-year low and the yuan at 7.31 on Oct 25 set the stage for extreme volatility, with the depreciation preceding the intervention reversal. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2024-11-07 | [CNY/USD: China Sets Yuan Fix at Weakest Since 2023 - Bloomberg](https://feedsoft.ai/events/6857-cny-usd-china-sets-yuan-fix-at-weakest-since-2023-bloomberg.md) | +0.7% | +1.3% |
| USDCNY | 2023-06-21 | [Yuan (CNY USD) Drops to Key 7.2 Level on Slow Stimulus, PBOC Greenlight - Bloomberg](https://feedsoft.ai/events/11231-yuan-cny-usd-drops-to-key-7-2-level-on-slow-stimulus-pboc-greenlight-bloomberg.md) | +0.5% | +0.6% |
| USDCNY | 2021-06-17 | [China’s PBOC Braces for Weaker Yuan as Fed Plans Tapering - Bloomberg](https://feedsoft.ai/events/7116-china-s-pboc-braces-for-weaker-yuan-as-fed-plans-tapering-bloomberg.md) | +1.2% | +1.0% |
| USDCNY | 2022-10-24 | [CNY/USD: China Yuan Weakens Past 7.3 Per Dollar, All-Time Low Since 2010 - Bloomberg](https://feedsoft.ai/events/6932-cny-usd-china-yuan-weakens-past-7-3-per-dollar-all-time-low-since-2010-bloomberg.md) | +0.1% | -1.0% |
| USDCNY | 2016-11-16 | [China’s Yuan Tumbles to Eight-Year Low as Banks Weaken Forecasts - Bloomberg](https://feedsoft.ai/events/7741-china-s-yuan-tumbles-to-eight-year-low-as-banks-weaken-forecasts-bloomberg.md) | +0.5% | +0.7% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2022-10-25/china-traders-to-parse-pboc-fixing-as-yuan-falls-near-weak-end

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