# Onshore yuan hits near one-week low; several Chinese banks reportedly raise dollar deposit rates

> The onshore yuan closed at 6.6735 per dollar, down 24 pips and at its weakest level in nearly a week; the daily midpoint was also weaker than market forecasts. Several Chinese banks reportedly raised dollar deposit rates, which could encourage exporters to retain dollar proceeds and reduce year-end currency conversion into yuan.

- Date: 2026-11-09 · published 2026-11-09T12:09:39.867Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/89337-onshore-yuan-hits-near-one-week-low-several-chinese-banks-reportedly-raise
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A weaker yuan raises the local-currency cost of imported feed ingredients, while exporters retaining dollar proceeds may limit subsequent yuan appreciation. The reported move is modest and does not directly change commodity supply or demand.

## Read by commodity

- USDCNY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2016-10-13 | [Dollar stalls, yuan hits 6-year low on Chinese trade dip](https://feedsoft.ai/events/5888-dollar-stalls-yuan-hits-6-year-low-on-chinese-trade-dip.md) | +0.3% | +0.9% |
| 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 | 2026-06-18 | [China's yuan weakens to one-week low on strong dollar, Fed hike bets weigh - Markets - Business Recorder](https://feedsoft.ai/events/8413-china-s-yuan-weakens-to-one-week-low-on-strong-dollar-fed-hike-bets-weigh.md) | +0.6% | +0.3% |
| USDCNY | 2026-03-27 | [China's yuan falls to near 3-week low as safe-haven demand lifts dollar \| The Star](https://feedsoft.ai/events/20386-china-s-yuan-falls-to-near-3-week-low-as-safe-haven-demand-lifts-dollar-the-star.md) | -0.4% | -1.2% |
| USDCNY | 2022-11-10 | [China’s yuan touches near one-week low on worsening COVID outbreaks - Markets - Business Recorder](https://feedsoft.ai/events/8203-china-s-yuan-touches-near-one-week-low-on-worsening-covid-outbreaks-markets.md) | -1.2% | -3.9% |

## Sources

- news.rthk.hk: https://news.rthk.hk/rthk/ch/component/k2/1877139-20261109.htm

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