24 days ago • Posted by Martin Boujol

China is trying hard to curb Yuan's gain

For the first time in a decade, the Chinese government has forced banks to hold more foreign currencies in an effort to contain Yuan's gains. Starting June 15, the nation's financial institution will be obliged to hold 7% of their foreign exchange, a 2% increase, and the first since 2007. The currency fell 0.2% following the news in Hong Kong on Monday morning. 

Source: Bloomberg, Yahoo Finance

#Forex #Macro
China is trying hard to curb Yuan's gain
bg_nwsletter