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Business & Finance
25 August 2023, 2:00 pm 1 minute
Reuters exclusively reported that China’s central bank has asked domestic banks to limit outflows into foreign bonds, the latest in the raft of steps authorities are taking to contain yuan weakness.
Market Impact
The move is the latest in a raft of recent efforts to make it harder to short the yuan and to prop up the currency against the U.S. dollar. As China’s financial markets suffer losses and heavy outflows, and investors grow impatient at the lack of more forceful action to address the stalling economy, the move also adds to the sense that policymakers see steadying the currency as an urgent task.
Article Tags
Topics of Interest: Business & Finance
Type: Reuters Best
Sectors: Business & Finance
Regions: Asia
Countries: China
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Significant National Story
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