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PBOC calls on banks to hold off on immediate dollar purchases - report

The report is via Reuters, citing two sources with knowledge of the matter. It is said that the PBOC has asked some of the big banks to refrain from immediately squaring their market positions and to let it run open in order to alleviate further downside pressure on the Chinese yuan.Adding that the banks have been asked not to square their positions after any US dollar sales to clients, until their spot foreign exchange position hits a certain level. Mind you, all of this is a rather informal gu... Read More

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Posted: Sep 14 2023, 04:48

Author Name: forexlive

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