China to raise reserve requirement ratio for foreign currency deposits
Source: Xinhua | 2021-12-10
China's central bank announced Thursday that it will raise the reserve requirement ratio (RRR) for foreign currency deposits by 2 percentage points from the current 7 percent to 9 percent, starting from Dec. 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.
Busiunion
Busiunion