PBC to cut forex reserve requirement ratio by 2 percentage points

0 Comment(s)Print E-mail Xinhua, September 1, 2023
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File photo shows an exterior view of the People's Bank of China in Beijing, capital of China. [Photo/Xinhua]

China's central bank said on Friday that it will cut forex reserve requirement ratio for financial institutions by 2 percentage points from Sept. 15.

The reserve requirement ratio will be reduced to 4 percent from the current 6 percent, the People's Bank of China said in a short notice on its website.

The move aims to improve the capacity of financial institutions to use forex funds, according to the notice.

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