# CNY/USD: Why China’s Yuan Hit Record Lows Against the Dollar - Bloomberg

> The yuan fell about 4% in September as Fed tightening drove a dollar rally. The offshore yuan hit a record low while the onshore rate was near levels last seen in the 2008 crisis.

- Date: 2022-09-29 · published 2022-09-29T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/7207-cny-usd-why-china-s-yuan-hit-record-lows-against-the-dollar-bloomberg
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Yuan weakness against a strong dollar signals tighter Chinese import margins and softer demand for dollar-priced feed inputs, a mild bearish signal for soybeans and meal.

## Read by commodity

- DXY: bullish ▲
- SOY: 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 | 2024-12-03 | [CNY/USD: China’s Yuan Falls to One-Year Low on Tariff Risk, Dollar Gains - Bloomberg](https://feedsoft.ai/events/27168-cny-usd-china-s-yuan-falls-to-one-year-low-on-tariff-risk-dollar-gains-bloomberg.md) | -0.2% | +0.4% |
| 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 | 2017-04-25 | [China's yuan dips against US dollar, falls to record low against currency basket - The Business Times](https://feedsoft.ai/events/71709-china-s-yuan-dips-against-us-dollar-falls-to-record-low-against-currency-basket.md) | +0.1% | -0.0% |
| USDCNY | 2022-08-19 | [China Yuan Slumps to Near-Two-Year Low Against USD as Rate Differential Widens - Bloomberg](https://feedsoft.ai/events/40262-china-yuan-slumps-to-near-two-year-low-against-usd-as-rate-differential-widens.md) | +0.9% | +2.9% |
| DXY | 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) | -1.8% | -1.5% |
| DXY | 2025-02-11 | [VND/USD: Vietnam Dong Falls to Record Low Against US Dollar - Bloomberg](https://feedsoft.ai/events/26383-vnd-usd-vietnam-dong-falls-to-record-low-against-us-dollar-bloomberg.md) | -1.0% | -2.0% |
| DXY | 2021-09-30 | [Dollar (USD) Rally Challenges China Recovery With Yuan (RMB) Gains - Bloomberg](https://feedsoft.ai/events/45272-dollar-usd-rally-challenges-china-recovery-with-yuan-rmb-gains-bloomberg.md) | +0.0% | -1.1% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2022-09-29/cny-usd-why-china-s-yuan-hit-record-lows-against-the-dollar

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