The central bank decides to reduce the reserve rate of foreign exchange deposit in financial institutions to 6%
Author:Zhongxin Jingwei Time:2022.09.05
Zhongxin Jingwei, September 5th, the central bank website said on the 5th that it decided to reduce the foreign exchange deposit reserve ratio of financial institutions.
Picture source: central bank website
Specifically, in order to improve the ability of foreign exchange funds for financial institutions, the People's Bank of China has decided that starting from September 15, 2022, the foreign exchange deposit reserve ratio of financial institutions is 2 percentage points, that isTo 6%.
After the news was released, the offshore RMB rose nearly 200 basis points against the US dollar.(Zhongxin Jingwei APP)
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