China orders banks to intervene to stem Yuan's fall | World Business Watch
Edited By WION Video Desk
Published: Aug 18, 2023, 05:55 IST | Updated: Aug 18, 2023, 05:55 IST
A Bloomberg report quoting sources showed Chinese officials ordered state-owned banks to intervene more in the currency market this week to curb yuan volatility. The Bloomberg sources also said that senior Chinese authorities are contemplating reducing banks' foreign-exchange reserve requirements to slow currency depreciation.
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