# Exclusive: Shanghai's lockdown delays dollar buying, gives falling yuan reprieve

> Shanghai's lockdown has delayed dollar purchases by Chinese-listed firms, easing pressure on the yuan. The currency had fallen more than 6% against the dollar in four weeks, its steepest drop in decades, as the greenback strengthened and growth concerns mounted.

- Date: 2022-05-13 · published 2022-05-13T12:00:00.000Z
- Category: macro · region China · magnitude medium
- Page: https://feedsoft.ai/events/9856-exclusive-shanghai-s-lockdown-delays-dollar-buying-gives-falling-yuan-reprieve
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

The delay in dollar buying offers short-term relief for the yuan, but the broader weakness signals slowing Chinese demand for imports. Weak domestic growth tends to weigh on feed demand and on commodity prices.

## Read by commodity

- USDCNY: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2026-06-01 | [Yuan May Hit Five Per Dollar on Carry-Trade Exit, Macquarie Says](https://feedsoft.ai/events/19482-yuan-may-hit-five-per-dollar-on-carry-trade-exit-macquarie-says.md) | -0.0% | +0.4% |
| USDCNY | 2017-01-03 | [China Inc.’s Large Dollar Debts Fuel Beijing’s Efforts to Curb Yuan Plunge](https://feedsoft.ai/events/10254-china-inc-s-large-dollar-debts-fuel-beijing-s-efforts-to-curb-yuan-plunge.md) | -0.1% | -1.0% |
| USDCNY | 2020-12-31 | [China state banks buy dollars to ease sharp yuan rally, traders say](https://feedsoft.ai/events/49863-china-state-banks-buy-dollars-to-ease-sharp-yuan-rally-traders-say.md) | -0.7% | -0.8% |
| USDCNY | 2018-11-07 | [China's reserves fall, suggesting Beijing propping up yuan \| AP News](https://feedsoft.ai/events/62266-china-s-reserves-fall-suggesting-beijing-propping-up-yuan-ap-news.md) | +0.5% | -0.6% |
| USDCNY | 2022-03-04 | [As China’s yuan gets stronger while Ukraine crisis drives up raw material prices, exporters shy away from US dollar \| South China Morning Post](https://feedsoft.ai/events/42484-as-china-s-yuan-gets-stronger-while-ukraine-crisis-drives-up-raw-material.md) | +0.0% | +0.3% |

## Sources

- reuters.com: https://www.reuters.com/world/china/exclusive-shanghais-lockdown-delays-dollar-buying-gives-falling-yuan-reprieve-2022-05-13/

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