# Update | Offshore yuan borrowing costs spike to 110 pc as PBOC beats back short sellers | South China Morning Post

> Hong Kong offshore yuan borrowing costs spiked to 110 percent on January 5 as the People's Bank of China moved to beat back short sellers. The offshore yuan rose as much as 1.18 percent to an intraday high of 6.7845 per dollar before easing back to 6.8316 in evening trading.

- Date: 2017-01-05 · published 2017-01-05T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/73182-update-offshore-yuan-borrowing-costs-spike-to-110-pc-as-pboc-beats-back-short
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

Squeezed offshore liquidity reflects central bank efforts to defend the yuan, which can influence the currency costs of Chinese commodity imports. The direct impact on feed prices is minor.

## Read by commodity

- USDCNY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2026-07-31 | [China’s offshore yuan hits 3-year high as Beijing signals policy support \| South China Morning Post](https://feedsoft.ai/events/18569-china-s-offshore-yuan-hits-3-year-high-as-beijing-signals-policy-support-south.md) | -0.1% | -0.5% |
| USDCNY | 2024-08-05 | [As stock sell-off sweeps Asia, China’s yuan surges as US rate cuts loom \| South China Morning Post](https://feedsoft.ai/events/7430-as-stock-sell-off-sweeps-asia-china-s-yuan-surges-as-us-rate-cuts-loom-south.md) | +0.1% | -1.0% |
| USDCNY | 2025-09-06 | [China’s yuan rallies with central bank backing as worries mount over US dollar \| South China Morning Post](https://feedsoft.ai/events/23115-china-s-yuan-rallies-with-central-bank-backing-as-worries-mount-over-us-dollar.md) | -0.1% | -0.2% |
| USDCNY | 2025-11-26 | [China sets strongest yuan fix in over a year as Fed-cut bets rise \| South China Morning Post](https://feedsoft.ai/events/22172-china-sets-strongest-yuan-fix-in-over-a-year-as-fed-cut-bets-rise-south-china.md) | -0.3% | -1.0% |
| USDCNY | 2020-08-28 | [Why the yuan could soon shake off its sluggishness against the US dollar \| South China Morning Post](https://feedsoft.ai/events/51839-why-the-yuan-could-soon-shake-off-its-sluggishness-against-the-us-dollar-south.md) | -0.7% | -1.0% |

## Sources

- scmp.com: https://www.scmp.com/business/banking-finance/article/2059599/hibor-fixed-close-one-year-high-beijing-intensifies-efforts

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