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China ups forex deposit reserve requirement ratio in bid to curb yuan rally - South China Morning Post

  • The People’s Bank of China (PBOC) will raise the reserve requirement ratio for banks from 7 per cent to 9 per cent effective from Wednesday next week
  • The offshore yuan weakened following the announcement, dropping by as many as 200 basis points to 6.3680 against the US dollar

Topic |   Yuan

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Amanda Lee Orange Wang Ji Siqi

Published: 9:41pm, 9 Dec, 2021

Updated: 9:41pm, 9 Dec, 2021