PBOC RAISE RESERVE REQUIREMENT RATIO FOR FOREIGN CURRENCY DEPOSITS

Highlights –

• PBOC raise reserve requirement ratio for foreign currency deposits.
• Chinese currency renminbi (RMB) remains high against the U.S. dollar.
• RMB has likely experienced some overshooting against the U.S. dollar.
• RM...

PEOPLE’S BANK OF CHINA OUTLINED KEY POLICIES AND TASKS FOR 2021 IN BEIJING

Highlights –

• People’s Bank of China outlined key policies and tasks for 2021 in Beijing.
• PBOC will offer effective financial support in accelerating the construction of a new development paradigm.
• PBOC is said to implement prude...

CHINA TO DESTROY PAPER-CURRENCY FROM AREAS HARD HIT BY CORONAVIRUS

Highlights:

• Paper currency collected from hospitals and buses will be targeted.
• 600 billion yuan of new banknotes circulated in the country since 17th January.
• Other notes will be disinfected and kept for 14 days away from the hands of peop...

Forex indexes to see Chinese currency gain some.

The United States and China trade war has long been affecting the global economy and creating problems for economies all over the globe by disrupting the supply and demand change with the huge tariffs in the bilateral trade war. But things seem to be taking a turn for good as the nations have agr...