PBOC to raise reserve requirement ratio on foreign exchange deposits by 2 percentage points
The People’s Bank of China (PBOC) announced on Tuesday that it would raise the reserve requirement ratio on foreign exchange deposits by 2 percentage points. The ratio would be 6 per cent, effective November 15, the central bank said in a statement, calling it a move to strengthen liquidity management of financial institutions. The move, requiring banks to hold a larger share of their foreign…
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