# Chinese yuan: Currency hits record lows against US dollar - BBC News

> The yuan hit record lows against the US dollar, with the offshore rate at its lowest since data began in 2011. Asian equities fell sharply as the dollar reached a 20-year high against major currencies after Fed rate hikes.

- Date: 2022-09-28 · published 2022-09-28T12:00:00.000Z
- Category: macro · region China · magnitude medium
- Page: https://feedsoft.ai/events/7208-chinese-yuan-currency-hits-record-lows-against-us-dollar-bbc-news
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Dollar strength and risk-off sentiment raise the cost of dollar-denominated imports for China and weigh on commodity demand, which is generally bearish for feed grains and meal.

## Read by commodity

- DXY: bullish ▲
- USDCNY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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 | 2022-09-29 | [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 | 2018-06-28 | [Chinese yuan hits fresh low against USD Wednesday](https://feedsoft.ai/events/64734-chinese-yuan-hits-fresh-low-against-usd-wednesday.md) | +0.5% | +2.8% |
| USDCNY | 2024-03-27 | [Asian currencies at multi-month lows against US dollar; stocks mixed - Markets - Business Recorder](https://feedsoft.ai/events/31453-asian-currencies-at-multi-month-lows-against-us-dollar-stocks-mixed-markets.md) | +0.2% | +0.4% |
| USDCNY | 2024-04-28 | [Yuan near five-month low against dollar - Business & Finance - Business Recorder](https://feedsoft.ai/events/30954-yuan-near-five-month-low-against-dollar-business-and-finance-business-recorder.md) | -0.1% | -0.1% |
| DXY | 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) | -1.0% | -1.1% |
| DXY | 2018-06-28 | [Indian rupee hits record low against US dollar; RBI intervenes - The Business Times](https://feedsoft.ai/events/64797-indian-rupee-hits-record-low-against-us-dollar-rbi-intervenes-the-business-times.md) | -0.8% | -0.9% |
| DXY | 2024-03-27 | [Asian currencies at multi-month lows against US dollar; stocks mixed - Markets - Business Recorder](https://feedsoft.ai/events/31453-asian-currencies-at-multi-month-lows-against-us-dollar-stocks-mixed-markets.md) | +0.2% | +1.4% |

## Sources

- bbc.co.uk: https://www.bbc.co.uk/news/business-63056680

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