# Chinese regulators vow to crack down on yuan exchange manipulation

> Chinese regulators said the foreign exchange market is largely balanced and the yuan could move in either direction. They added that the exchange rate cannot be used to boost exports or offset surging commodity prices, and they vowed to crack down on manipulation.

- Date: 2021-05-28 · published 2021-05-28T12:00:00.000Z
- Category: policy · region China · magnitude medium
- Page: https://feedsoft.ai/events/47315-chinese-regulators-vow-to-crack-down-on-yuan-exchange-manipulation
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A firmer yuan makes Chinese imports of feed ingredients cheaper in dollar terms, which can support Chinese buying of soybeans and meal. The signal that Beijing will not allow currency moves to offset commodity costs limits the chance of a weaker yuan supporting import demand.

## Read by commodity

- USDCNY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2018-08-25 | [China Reintroduces Measure to Help Defend Yuan Exchange Rate - Caixin Global](https://feedsoft.ai/events/10039-china-reintroduces-measure-to-help-defend-yuan-exchange-rate-caixin-global.md) | +0.4% | +0.8% |
| USDCNY | 2022-10-26 | [Chinese state banks sold dollars to support yuan late on Tuesday - sources \| Reuters](https://feedsoft.ai/events/6937-chinese-state-banks-sold-dollars-to-support-yuan-late-on-tuesday-sources-reuters.md) | +0.1% | -1.5% |
| USDCNY | 2026-02-27 | [China encourages dollar buying to slow surging yuan \| Reuters](https://feedsoft.ai/events/7895-china-encourages-dollar-buying-to-slow-surging-yuan-reuters.md) | +0.7% | +1.0% |
| USDCNY | 2022-09-29 | [Exclusive: China's state banks told to stock up for yuan intervention](https://feedsoft.ai/events/7209-exclusive-china-s-state-banks-told-to-stock-up-for-yuan-intervention.md) | -1.2% | +0.3% |
| USDCNY | 2022-09-05 | [China c.bank to cut FX reserve ratio to help limit yuan weakness](https://feedsoft.ai/events/12267-china-c-bank-to-cut-fx-reserve-ratio-to-help-limit-yuan-weakness.md) | +0.4% | +3.1% |

## Sources

- reuters.com: https://www.reuters.com/business/chinese-regulators-vow-crack-down-yuan-exchange-manipulation-2021-05-28/

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