China yuan’s pressure to ease, but ‘internal fundamentals’ remain amid coronavirus battle

//China yuan’s pressure to ease, but ‘internal fundamentals’ remain amid coronavirus battle

China yuan’s pressure to ease, but ‘internal fundamentals’ remain amid coronavirus battle

A move by the People’s Bank of China to cut the foreign exchange deposit reserve requirement ratio for banks next month is an attempt to slow down the depreciation of the yuan and reduce the incentive to hold onto the US dollar.

Article by [author-name] (c) China - South China Morning Post - Read full story here.

By | 2022-04-26T12:00:24+00:00 April 26th, 2022|Headlines|Comments Off on China yuan’s pressure to ease, but ‘internal fundamentals’ remain amid coronavirus battle