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Video
19:12, 26-Apr-2022
China lowers banks' FX reserve ratio to 8% from 9% to stabilize yuan
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China is cutting its foreign exchange reserve requirement ratio by 100 basis points to 8 percent from May 15. China's central bank on Monday said the cut is aimed at stabilizing the yuan and releasing more dollars. Offshore, the yuan surged by 200 points against the US dollar to break the 6.58 mark after the statement.
