PBOC raises banks’ FX deposit reserve requirement for second time this year after yuan hit strongest in over three years
FEATURES POLICY & REGULATION
PBOC raises banks’ FX deposit reserve requirement for second time this year after yuan hit strongest in over three years
FEATURES POLICY & REGULATION

PBOC raises banks’ FX deposit reserve requirement for second time this year after yuan hit strongest in over three years

 

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China's central bank has lowered financial institutions' reserve requirement ratio for foreign exchange deposits for the second time this year after the local currency strengthened sharply to hit the strongest level in more than three years.

The People's Bank of China (PBOC) said it will raise the foreign exchange reserve requirement ratio (RRR) by 200 basis points to 9% from 7%, starting from Dec. 15, in a move to "strengthen foreign exchange liquidity . . .

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