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The People's Bank of China will cut the foreign exchange deposit reserve ratio to 8% next month


The People's Bank of China announced that starting from the 15th of next month, the foreign exchange deposit reserve ratio of financial institutions will be lowered by 1 percentage point, that is, from the current 9% to 8%, in order to improve the ability of financial institutions to use foreign exchange funds. This is the first time the PBOC this year. Cut the deposit reserve ratio. Recall that at the end of last year, the foreign exchange deposit reserve ratio was significantly raised by 2 percentage points. The market estimates that this action will help ease the liquidity of domestic and foreign currency funds, ease the downward pressure on the renminbi, and stimulate the economy.
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