SHANGHAI, Apr 26 (SMM) - In order to improve the ability of financial institutions to use foreign exchange funds, the People's Bank of China has decided to reduce the reserve requirement ratio for foreign currency deposits by 1 percentage point from May 15, 2022, that is, the reserve requirement ratio for foreign currency deposits will be cut from the current 9% to 8%.
PBOC to Reduce Reserve Requirement Ratio for Foreign Currency Deposits of Financial Institutions
PBOC to reduce reserve requirement ratio for foreign currency deposits of financial institutions
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