China’s central bank to scrutinise bulk dollar purchases

Economy

Reuters exclusively reported that China’s central bank is tightening its scrutiny of bulk dollar purchases by domestic firms, three sources with direct knowledge of the matter said on Monday, at a time when the Chinese currency faces mounting depreciation pressure. 

Market Impact

The directive is being issued as the Chinese yuan has declined by about 6% against the U.S. dollar so far this year, falling to levels that were last seen during the 2008 global financial crisis. 

Article Tags

Topics of Interest: Economy

Type: Reuters Best

Sectors: Economy & PolicyFX & Fixed Income

Regions: Asia

Countries: China

Win Types: Exclusivity

Story Types: Exclusive / Scoop

Media Types: Text

Customer Impact: Significant National Story


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