China orders its banks to reduce US dollar purchases.

China orders its banks to reduce US dollar purchases.

China's Central Bank Directs State Banks To Reduce US Dollar Purchase Amid Trade War With America

Beijing: Amid a full scale tariff war with United States, China’s central bank on Wednesday directed its state-owned banks to scale down use of US dollar and make efforts to weaken the American currency. China's central bank step is being seen as an attempt to safeguard the local

PBOC tells lenders to trim greenback purchases

China's central bank has asked state lenders to reduce US dollar purchases, sources said. This came as the yuan fell to the lowest level in more than 17 years amid an escalating trade war between the United States and China. The People's Bank of China sent the window guidance, which is its informal...

China's Central Bank Asks State-owned Banks to Reduce US Dollar Purchases

China's Central Bank moves to reduce US dollar buys, curb Yuan depreciation, and stabilize the forex market amid US-China trade tensions.

The US-China customs dispute is going back and forth. The country is hit by particularly tough tariffs, which threatens competitiveness. Also the further falling Yuan increases the pressure. The Chinese Central Bank is now taking countermeasures, as insiders report.

China signals determination to defend yuan after offshore level hits record low

China’s central bank sets midpoint rate at 7.2066 per US dollar ahead of imposition of even steeper US tariffs.