China to raise reserve requirement ratio for foreign currency deposits

0 Comment(s)Print E-mail Xinhua, December 9, 2021
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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. 

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