# Yuan near 4-year high despite state bank dollar buying | Financial Post

> The onshore yuan closed at 6.3111 per dollar on February 28, its strongest close since April 2018, despite state banks buying dollars to slow gains. The PBOC midpoint was 6.3222, also the strongest since 2018.

- Date: 2022-02-28 · published 2022-02-28T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/42928-yuan-near-4-year-high-despite-state-bank-dollar-buying-financial-post
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A firmer yuan lowers the local-currency cost of dollar-priced feed imports, supporting Chinese buying power, while state intervention signals policy discomfort with the rally.

## Read by commodity

- USDCNY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2021-11-24 | [Asian FX resist dollar strength, Thai stocks hit over 2-year high \| Financial Post](https://feedsoft.ai/events/44313-asian-fx-resist-dollar-strength-thai-stocks-hit-over-2-year-high-financial-post.md) | -0.4% | -0.3% |
| USDCNY | 2021-04-22 | [China's yuan nears six-week high as U.S. yields ease \| Financial Post](https://feedsoft.ai/events/47810-china-s-yuan-nears-six-week-high-as-u-s-yields-ease-financial-post.md) | -0.2% | -0.9% |
| USDCNY | 2019-11-06 | [China sets yuan midpoint at three-month high \| Financial Post](https://feedsoft.ai/events/56292-china-sets-yuan-midpoint-at-three-month-high-financial-post.md) | +0.2% | +0.5% |
| USDCNY | 2026-02-26 | [Chinese Yuan Breaks Past 6.84 to US Dollar, Hitting Nearly Three-Year High](https://feedsoft.ai/events/9165-chinese-yuan-breaks-past-6-84-to-us-dollar-hitting-nearly-three-year-high.md) | +0.4% | +0.5% |
| USDCNY | 2025-11-14 | [Yuan firms to one-year high on exporter US dollar selling](https://feedsoft.ai/events/22175-yuan-firms-to-one-year-high-on-exporter-us-dollar-selling.md) | +0.2% | -0.6% |

## Sources

- financialpost.com: https://financialpost.com/pmn/business-pmn/yuan-near-4-year-high-despite-state-bank-dollar-buying

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