CHINA China to raise reserve requirement ratio for foreign currency deposits

CHINA

China to raise reserve requirement ratio for foreign currency deposits

People's Daily app

19:27, December 09, 2021

China's central bank announced Thursday that it will raise the reserve requirement ratio (RRR) for foreign currency deposits by 2 percentage points from the current 7 percent to 9 percent, beginning from December 15.


File photo: Xinhua

The move aims to strengthen the liquidity management of foreign currencies in financial institutions, the People's Bank of China said in an online statement.

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