PBoC dials back on forex controls

People’s Bank of China headquarters, Beijing
The People's Bank of China has taken measures to nudge down the yuan

The People’s Bank of China (PBoC) has scaled back its defensive mechanism around renminbi by removing the reserve requirements for foreign exchange.

Analysts believe the move is designed to bring in more uncertainty to forex markets and avoid one-way trading, as officials have expressed concerns about the recent strength in the yuan.

According to state media Xinhua, China’s central bank has cancelled the reserve requirements for financial institutions settling foreign exchange forward renminbi

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: