On Monday, the People’s Bank of China acted to rein in the runaway RMB which has appreciated against global currencies as investors flock to benefit from the reopening of the economy there. The PBoC increased the cash that banks have to put up with the Chinese central bank to exchange foreign currencies for RMB-denominated assets. It increased the reserve requirement…
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Private banks brace as China acts to tame runaway currency
1 June 2021

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