China raises reserve requirement ratio for foreign currency deposits

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Photo/Shetuwang

China's central bank announced Monday that it will raise the reserve requirement ratio (RRR) for foreign currency deposits by 2 percentage points from the current 5 percent to 7 percent, beginning June 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. 

 

Email: lansuying@nbd.com.cn

Editor: Lan Suying