China’s currency has rebounded by about six per cent from this year’s low in May amid a weaker US dollar. Photo: Reuters China’s currency has rebounded by about six per cent from this year’s low in May amid a weaker US dollar. Photo: Reuters
China’s currency has rebounded by about six per cent from this year’s low in May amid a weaker US dollar. Photo: Reuters

China slows yuan’s rise on asset bubble concerns, signalling new battle against excessive appreciation

  • The People’s Bank of China (PBOC) has scrapped the reserve requirement for financial institutions conducting new foreign exchange forwards
  • The move followed a sharp appreciation of the yuan on Friday, indicating China’s central bank is keen to dampen excessive appreciation of the currency

Topic |   China economy
China’s currency has rebounded by about six per cent from this year’s low in May amid a weaker US dollar. Photo: Reuters China’s currency has rebounded by about six per cent from this year’s low in May amid a weaker US dollar. Photo: Reuters
China’s currency has rebounded by about six per cent from this year’s low in May amid a weaker US dollar. Photo: Reuters
READ FULL ARTICLE