# China's yuan slides to 14-year low after US rate hikes | AP News

> China's yuan slid to a 14-year low against the US dollar after US interest rate hikes widened the yield gap. A weaker yuan makes Chinese exports cheaper abroad but encourages capital to leave the economy. Borrowing costs for Chinese firms and households rise as a result.

- Date: 2022-09-28 · published 2022-09-28T12:00:00.000Z
- Category: macro · region China · magnitude medium
- Page: https://feedsoft.ai/events/8604-china-s-yuan-slides-to-14-year-low-after-us-rate-hikes-ap-news
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A weaker yuan lowers the cost of Chinese exports while pressuring the Chinese economy and its import demand. For feed buyers, a softer yuan can dampen Chinese purchasing power for grains and meal, and it tends to add pressure to dollar-denominated commodity prices.

## Read by commodity

- USDCNY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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% |
| USDCNY | 2016-06-27 | [Update \| Chinese yuan slides to 5-year low, pound slumps further in Brexit aftershock \| South China Morning Post](https://feedsoft.ai/events/12457-update-chinese-yuan-slides-to-5-year-low-pound-slumps-further-in-brexit.md) | +0.6% | +1.0% |
| 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 | 2022-05-09 | [Chinese Yuan Slips To An 18-Month Low - Asia Financial News](https://feedsoft.ai/events/8317-chinese-yuan-slips-to-an-18-month-low-asia-financial-news.md) | +1.8% | -0.2% |
| USDCNY | 2022-04-25 | [Yuan Slips to One-Year Lows, Extending Losses - Asia Financial News](https://feedsoft.ai/events/4952-yuan-slips-to-one-year-lows-extending-losses-asia-financial-news.md) | +1.6% | +2.9% |

## Sources

- apnews.com: https://apnews.com/article/china-beijing-global-trade-economy-7ac695cdaec91293fbbeefbd30a5dc18

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