# China's yuan dips against US dollar, falls to record low against currency basket - The Business Times

> China's yuan slipped against the US dollar on April 26 and fell to a record low against a basket of currencies after the PBOC set a weaker midpoint of 6.8845. The CFETS basket index dropped to 92.67, the lowest since its data began in late 2015. Tightening onshore liquidity, with overnight SHIBOR at a two-year high, was expected to limit losses.

- Date: 2017-04-25 · published 2017-04-25T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/71709-china-s-yuan-dips-against-us-dollar-falls-to-record-low-against-currency-basket
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md), [DDGS](https://feedsoft.ai/c/DDGS.md)

## Why it matters

A weaker yuan makes Chinese buyers of US feed ingredients such as DDGS and soymeal less price-competitive at the margin, so it is mildly bearish for US exports. The move is largely currency-driven rather than a change in feed demand.

## Read by commodity

- DDGS: bearish ▼
- USDCNY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2022-09-28 | [Chinese yuan: Currency hits record lows against US dollar - BBC News](https://feedsoft.ai/events/7208-chinese-yuan-currency-hits-record-lows-against-us-dollar-bbc-news.md) | -0.9% | -0.1% |
| USDCNY | 2024-01-19 | [China’s yuan set to weaken for a third week against rebounding dollar - Markets - Business Recorder](https://feedsoft.ai/events/32358-china-s-yuan-set-to-weaken-for-a-third-week-against-rebounding-dollar-markets.md) | -0.4% | -0.0% |
| USDCNY | 2022-09-29 | [CNY/USD: Why China’s Yuan Hit Record Lows Against the Dollar - Bloomberg](https://feedsoft.ai/events/7207-cny-usd-why-china-s-yuan-hit-record-lows-against-the-dollar-bloomberg.md) | -1.2% | +0.3% |
| USDCNY | 2018-07-20 | [China’s yuan falls against dollar, helping exporters \| The Seattle Times](https://feedsoft.ai/events/64270-china-s-yuan-falls-against-dollar-helping-exporters-the-seattle-times.md) | +0.2% | +1.6% |
| USDCNY | 2017-10-26 | [China's yuan weakens on US dollar strength, set for 2nd weekly loss - The Business Times](https://feedsoft.ai/events/68677-china-s-yuan-weakens-on-us-dollar-strength-set-for-2nd-weekly-loss-the-business.md) | -0.5% | -0.5% |

## Sources

- businesstimes.com.sg: https://www.businesstimes.com.sg/companies-markets/banking-finance/chinas-yuan-dips-against-us-dollar-falls-record-low-against

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