男友太凶猛1v1高h,大地资源在线资源免费观看 ,人妻少妇精品视频二区,极度sm残忍bdsm变态

Global EditionASIA 中文雙語Fran?ais
Business
Home / Business / Finance

China scraps reserve requirement for forward forex trading

Xinhua | Updated: 2020-10-11 07:37
Share
Share - WeChat
A bank staff member counts RMB and US dollar notes in Nantong, Jiangsu province, on Aug 28, 2019. [Photo/Sipa]

BEIJING — China's central bank announced on Saturday that it will scrap the reserve requirement for forward forex trading starting Oct 12.

The foreign exchange risk reserve ratio for forward forex trading will be reduced from 20 percent to zero, the People's Bank of China said in an online statement.

The move was made as the country's foreign exchange market operation has remained stable with balanced market supply and demand since the start of this year, according to the statement.

The PBOC said that exchange rate of the Chinese renminbi, or the yuan, has maintained two-way fluctuations based on market supply and demand, and demonstrated greater flexibility.

"China has seen stable market expectations and orderly flows of cross-boarder capital so far this year," the central bank said.

"The adjustment will help the exchange rate of RMB against the US dollar remain at a reasonable equilibrium level," said Wen Bin, chief analyst at China Minsheng Bank, adding that the currency has recently seen significant appreciation amid improving economic fundamentals of the country.

The central parity rate of the yuan strengthened 305 pips to 6.7796 against the US dollar Friday, according to the China Foreign Exchange Trade System.

Wen said the adjustment can also help banks reduce the cost of forward forex trading and increase demand of this product among enterprises, so as to better use derivatives to manage exchange rate risks.

In the statement, the country also pledged continued efforts to maintain the flexibility of the yuan's exchange rate and stabilize market expectations to keep the RMB's exchange rate basically stable at a reasonable and balanced level.

China pursues a prudent monetary policy in a more flexible and appropriate way, according to this year's government work report.

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE
 
主站蜘蛛池模板: 金塔县| 福建省| 虎林市| 辉县市| 枣庄市| 沙雅县| 西乌珠穆沁旗| 乐昌市| 齐齐哈尔市| 海丰县| 万山特区| 揭阳市| 九寨沟县| 屏边| 额尔古纳市| 永新县| 清苑县| 方山县| 新乐市| 鄂伦春自治旗| 康平县| 安多县| 奎屯市| 沧源| 施秉县| 龙川县| 个旧市| 吉安县| 浠水县| 商城县| 安吉县| 文安县| 吉隆县| 湖南省| 洞口县| 太仓市| 达尔| 邻水| 扬中市| 扎囊县| 桂平市|