FXStreet·48 event signal
Chinese Yuan: PBoC slows Yuan gains – MUFG
financeMUFG
MUFG notes that the People's Bank of China (PBoC) raised the FX reserve requirement ratio to 6% from 4% after USD/CNY moved toward 6.65, effective 15 November. The measure is seen as locking up about USD24 billion in FX liquidity and aiming to slow CNY appreciation rather than reverse it.
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Source: FreeNewsAPIRead at FXStreet
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