According to the report, any business wanting to purchase $50 million or more, must now first obtain approval from the People’s Bank of China (PBOC). This decision comes after the institution had a meeting with some of the commercial banks over the weekend. During this year, the Chinese yuan decreased by approximately 6% against the…
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Mati Greenspan, Senior Market Analyst at FX broker eToro, has provided his daily commentary on traditional and crypto markets for September 9, 2019. The text below is an excerpt and does not contain the full analysis. Highlights include: China’s banks tries its own form of stimulus: China’s reserve ratio will be the lowest level China…
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China's forex regulator is telling banks to keep its instructions about curbing capital outflows secret and to ensure that research analysts keep any negative views about the yuan's prospects to themselves, several bankers said, according to Reuters. Both demands are seen as an attempt by the authorities to prevent alarm that could trigger further declines…
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