SHANGHAI (Reuters) - China's central bank said on Monday it will reinstate foreign exchange risk reserves for some forwards contracts, a move that would make betting against the yuan currency more expensive in order to slow the pace of recent depreciation.
The People's Bank of China (PBOC) said it would raise the foreign exchange risk reserves for financial institutions when purchasing FX through currency forwards to 20% from the current zero, starting on Sept. 28.
China's central bank scrapped the risk reserve requirements in October 2020, when the yuan rose sharply.
(Reporting by Winni Zhou and Brenda Goh; Editing by Kim Coghill)
Price
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Change
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5d. change
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Capi.
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|---|---|---|---|---|---|
| 3.24 HKD | -0.61% | -1.22% | 168B | ||
| 4.63 CNY | -0.71% | -3.03% | - | ||
| 5.229 CNY | -0.39% | -1.82% | - | ||
| 7.702 CNY | +0.16% | -1.89% | - | ||
| 9.012 CNY | +0.05% | -1.50% | - | ||
| 0.0865 CNY | -0.16% | -0.35% | - | ||
| 7.238 CNY | +0.01% | +0.10% | - | ||
| 7.27 CNH | +0.15% | +0.39% | - | ||
