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

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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