PBOC announced over the weekend to lower the FX risk reserve ratio for forward foreign exchange sales from 20% to 0, effective October 12. The move is likely a response to the strength in renminbi (a.k.a. RMB, CNY). The central bank pledged to “maintain the flexibility of the RMB exchange rate and stabilize market expectations, […]
The post PBOC Moves to Curb Renminbi’s Strength appeared first on Action Forex.