China to cut reserve requirement ratio for foreign currency deposits
Xinhua |
Updated: 2022-04-25 19:48
Share
Share - WeChat
BEIJING - China's central bank announced Monday that it will cut the reserve requirement ratio for foreign currency deposits by 1 percentage point from the current 9 percent to 8 percent, starting from May 15.
The move aims to strengthen the management of foreign currencies in financial institutions, the People's Bank of China said in an online statement.
