China encourages dollar buying to slow surging yuan

China encourages dollar buying to slow surging yuan

China's central bank moved to rein in the fast-rising yuan on Friday, scrapping risk reserves requirements for forex forward contracts in a move that would encourage dollar buying as exporters start to feel the pinch from a stronger currency.

Global Market | China moves to cool yuan rally, eases FX forward rules

China's central bank is intervening to slow the yuan's rapid climb. The People's Bank of China is removing foreign exchange risk reserve requirements for certain forward contracts. This move encourages dollar buying and cools the currency's surge. The yuan had reached a near three-year high against the US dollar. This policy adjustment signals policymakers' concern over the pace of appreciation.

China's yuan halts rally after PBOC cuts dollar-buying costs

A long rally in China's yuan was halted on Friday after authorities made their strongest pushback yet on months of gains, holding the currency's trading band steady and tweaking a policy to cut the...

China Moves to Curb Yuan Rally

China Moves to Curb Yuan Rally - Central bank cuts foreign exchange risk reserve ratio to zero

China’s yuan halts rally after PBOC cuts dollar-buying costs

The onshore yuan snapped a 10-day winning streak and fell about 0.15% at the market open to 6.86 per dollar