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【Financial Str. Release】China raises reserve requirement ratio for foreign currency deposits

Abstract : China's central bank announced Monday that it will raise the reserve requirement ratio for foreign currency deposits by 2 percentage points from the current 5 percent to 7 percent, beginning June 15.

Photo taken on March 13, 2018 shows the headquarters of the People’s Bank of China in Beijing, capital of China. (Xinhua/Cai Yang)

BEIJING, May 31 (Xinhua) — China’s central bank announced Monday that it will raise the reserve requirement ratio for foreign currency deposits by 2 percentage points from the current 5 percent to 7 percent, beginning June 15.

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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Xinhua Silk Road (en.imsilkroad.com) is the Belt and Road Initiative (BRI) portal.China’s silk road economic belt and the 21st century maritime silk road website,includes BRI Policy, BRI Trade, BRI Investment, Belt and Road weekly, Know Belt and Road, and the integrated information services for the Belt and Road Initiative (BRI).

Source: 【Financial Str. Release】China raises reserve requirement ratio for foreign currency deposits

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