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PBOC to impose reserve ratio on offshore yuan accounts

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 17, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Bali) - Effective Jan 25th, the PBOC is set impose reserve ratio on offshore yuan accounts, Bloomberg reported over the weekend, citing people familiar with the matter.

    The move is an attempt by the PBOC to discourage speculators with a bearish view on the Yuan to actively short the currency as it makes borrowing the currency a more expensive proposition. The news should act as a positive input to strengthen the offshore Yuan today, which may potentially favour 'risk on' trading.
    For more information, read our latest forex news.
     

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