# China lowers yuan mid-point to fresh 11-year low, but higher than forecasts | Reuters

> China's central bank lowered its yuan midpoint for a seventh straight session, setting it at 7.0136 per dollar, the weakest level since April 2008. The fix came in firmer than Reuters' estimate of 7.0222, which traders had not expected.

- Date: 2019-08-09 · published 2019-08-09T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/8381-china-lowers-yuan-mid-point-to-fresh-11-year-low-but-higher-than-forecasts
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A weaker yuan raises the cost of dollar-priced imports for China, which can modestly dampen its buying of U.S. soybeans and meal. The firmer-than-expected fix suggests Beijing is limiting the pace of depreciation, so the effect on feed prices is likely limited.

## Read by commodity

- USDCNY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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% |
| USDCNY | 2018-11-01 | [China to defend 7 yuan per dollar rate, but may find it tough: Reuters poll](https://feedsoft.ai/events/62264-china-to-defend-7-yuan-per-dollar-rate-but-may-find-it-tough-reuters-poll.md) | -0.8% | -0.3% |
| USDCNY | 2024-03-22 | [China yuan slides to four-month low, state banks step in \| Reuters](https://feedsoft.ai/events/31441-china-yuan-slides-to-four-month-low-state-banks-step-in-reuters.md) | +0.4% | +0.5% |
| USDCNY | 2016-06-24 | [Chinese yuan falls to more than 5-year low on Brexit fears](https://feedsoft.ai/events/10881-chinese-yuan-falls-to-more-than-5-year-low-on-brexit-fears.md) | +1.1% | +1.6% |
| USDCNY | 2020-02-03 | [China's yuan weakens but falling yen points to risk recovery](https://feedsoft.ai/events/5135-china-s-yuan-weakens-but-falling-yen-points-to-risk-recovery.md) | +1.2% | +0.6% |

## Sources

- reuters.com: https://www.reuters.com/article/markets/china-lowers-yuan-mid-point-to-fresh-11-year-low-but-higher-than-forecasts-idUSAZN0FGX00/

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