Reuters exclusively reported that China’s central bank is tightening its scrutiny of bulk dollar purchases by domestic firms, three sources with direct knowledge of the matter said on Monday, at a time when the Chinese currency faces mounting depreciation pressure.
Economy
China’s central bank to scrutinise bulk dollar purchases
11 September 2023, 5:59 pm 1 minute
Market Impact
The directive is being issued as the Chinese yuan has declined by about 6% against the U.S. dollar so far this year, falling to levels that were last seen during the 2008 global financial crisis.
Article Tags
Topics of Interest: Economy
Type: Reuters Best
Sectors: Economy & PolicyFX & Fixed Income
Regions: Asia
Countries: China
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Significant National Story
