Wednesday , 6 November 2024
Home Forex China’s $120bn effort to prop up the yuan
Forex

China’s $120bn effort to prop up the yuan

China’s FX regulator is the State Administration of Foreign Exchange (SAFE).

They’ve published data for year-to-date sales of foreign currency by commercial banks

  • 121.3bn net FX sold January – September

SAFE adds:

  • yuan exchange is basiclly stable at reasonable and balanced levels
  • FX mkt shows relatively strong resilience

This article was written by Eamonn Sheridan at www.forexlive.com.

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles

Goldman maintains 12 month S&P target at 6300.

Goldman Sachs is saying that they keep its 12 month target for...

AUDUSD falls to lowest level since early August but bounces higher

The AUDUSD fell ahead of the election results and in the process...

EIA weekly US crude oil inventories +2149K vs +1103K expected

Prior was +5474Crude oil inventories +2149K vs +1103K expGasoline inventories +412K vs...

Harris to deliver concession speech at 6 pm ET (Update: might be 4 pm ET)

Harris will deliver a concession speech at 'around' 6 pm ET. Biden...