Business & Finance
01 August 2023, 7:35 pm 1 minute
Reuters exclusively reported that China’s currency regulators have asked commercial banks to delay or reduce their dollar purchases as authorities try to contain yuan weakness. The scoop is the latest report on central bank measures in currency markets and prompted an immediate response from authorities, with China’s State Administration of Foreign Exchange (SAFE) issuing a comprehensive statement exclusively to Reuters.
Market Impact
Chinese yuan has lost 3.6% against the U.S. dollar so far this year, hitting 7.16 per dollar on Tuesday to be one of Asia’s worst performing currencies.Â
Article Tags
Topics of Interest: Business & Finance
Type: Reuters Best
Sectors: Business & Finance
Regions: Asia
Countries: China
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Significant National Story