# EXCLUSIVE China regulator warns banks against yuan selling - sources | Reuters

> China's foreign exchange regulator phoned several banks to warn them against aggressively selling the yuan, according to people with direct knowledge. The calls signal official discomfort with the currency's recent slide, and the yuan rebounded to 6.8605 per dollar offshore.

- Date: 2022-08-24 · published 2022-08-24T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/40257-exclusive-china-regulator-warns-banks-against-yuan-selling-sources-reuters
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A weaker yuan raises the cost of Chinese imports of feed inputs priced in dollars and can shift Chinese buying of US soybeans and corn; intervention to stabilise the yuan eases that pressure somewhat.

## Read by commodity

- USDCNY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2024-08-30 | [China state banks buying dollars amid rapid yuan gains, sources say \| Reuters](https://feedsoft.ai/events/29021-china-state-banks-buying-dollars-amid-rapid-yuan-gains-sources-say-reuters.md) | -0.1% | -1.2% |
| USDCNY | 2023-07-20 | [Exclusive: China's state banks selling dollars offshore to slow yuan declines, sources say](https://feedsoft.ai/events/35258-exclusive-china-s-state-banks-selling-dollars-offshore-to-slow-yuan-declines.md) | -1.0% | +1.0% |
| USDCNY | 2024-01-05 | [Exclusive: China's state banks act to stem yuan slide onshore and offshore -sources](https://feedsoft.ai/events/32357-exclusive-china-s-state-banks-act-to-stem-yuan-slide-onshore-and-offshore.md) | +0.1% | +0.5% |
| USDCNY | 2023-08-21 | [EXCLUSIVE: China state banks seen mopping up offshore yuan to stem currency weakness \| Reuters](https://feedsoft.ai/events/34803-exclusive-china-state-banks-seen-mopping-up-offshore-yuan-to-stem-currency.md) | +0.1% | +0.2% |
| USDCNY | 2022-10-17 | [EXCLUSIVE: Exclusive: China's state banks seen acquiring dollars in swaps market to stabilise yuan \| Reuters](https://feedsoft.ai/events/39358-exclusive-exclusive-china-s-state-banks-seen-acquiring-dollars-in-swaps-market.md) | +0.7% | -1.6% |

## Sources

- reuters.com: https://www.reuters.com/markets/asia/exclusive-china-regulator-warns-banks-against-yuan-selling-sources-2022-08-24/

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