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

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
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