China has phased out the countercyclical factor used to determine the midpoint of the yuan’s daily trading range against the US dollar. Photo: AP China has phased out the countercyclical factor used to determine the midpoint of the yuan’s daily trading range against the US dollar. Photo: AP
China has phased out the countercyclical factor used to determine the midpoint of the yuan’s daily trading range against the US dollar. Photo: AP

China discards black box exchange rate factor as foreign investors pour money in

  • Chinese banks have phased out the countercyclical factor used to determine the midpoint of the yuan’s daily trading range against the US dollar
  • The move reflects confidence the currency will appreciate further as foreign investment is ploughed into Chinese equities and bonds, analysts say

Topic |   China economy
China has phased out the countercyclical factor used to determine the midpoint of the yuan’s daily trading range against the US dollar. Photo: AP China has phased out the countercyclical factor used to determine the midpoint of the yuan’s daily trading range against the US dollar. Photo: AP
China has phased out the countercyclical factor used to determine the midpoint of the yuan’s daily trading range against the US dollar. Photo: AP
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