Chinese Yuan Set for Biggest Daily Drop in Six Months After PBOC Tightens FX Reserves

Chinese yuan set for biggest daily drop in six months after PBOC tightens FX reserves

China's yuan weakened against the US dollar after the PBOC raised the foreign exchange reserve requirement ratio to curb rapid currency appreciation. The move comes amid concerns over export competitiveness and follows strong gains in the yuan during October.

China to raise FX reserve requirement to slow yuan's rally

China raises FX reserves to slow yuan rally

China raises FX reserve requirement to slow yuan’s rally, as the central bank acts to manage foreign exchange liquidity. Read more at straitstimes.com.

China's central bank to raise forex reserve requirement ratio for financial institutions

The People's Bank of China, the central bank, said on Tuesday it will raise the foreign exchange reserve requirement ratio for financial institutions by 2 percentage points to 6% from November 15, in a move to strengthen the management of forex liquidity.

PBOC to raise banks’ forex reserve requirements amid yuan appreciation pressure

The People’s Bank of China says it will increase the reserve requirement ratio on foreign exchange deposits later this month.