Press "Enter" to skip to content

CHECK THE WIRE FOR LIVE UPDATES

China phases out counter-cyclical factor in yuan’s daily fixing after recent sharp appreciation

Last updated on October 28, 2020

Chinese banks have phased out the use of the counter-cyclical factor in the daily fixing of the yuan after the currency strengthened sharply in recent months, a fresh sign that Beijing may be attempting to slow the pace of the yuan's rally.

Some of the 14 lenders who submit quotes for the US dollar-yuan exchange rate to the China Foreign Exchange Trade System, part of the People's Bank of China, every morning before . . .

To continue reading, please subscribe. You will get

 

    • THE  WIRE  - An Unrivalled Real-Time Platform providing up-to-the-minute updates of market-moving news and views utilising a network of journalists, traders, brokers, analysts, etc. We walk you through every trading day in China with marking-moving information you must know. Here are some screenshots of the wire updates.
    • IN-DEPTH & DATA-DRIVEN reporting on major events about China's economy, policy and financial markets.
    • DETAILS - We bring you important details that you won't find elsewhere.
    • WEEKLY NEWSLETTER with Editors' Picks

FREE TRIAL cancel anytime

Already have an account? Sign In

 

 

Top