PBOC is reportedly stepping up yuan curbs with banks – BBG
|The Chinese central bank, PBOC, has apparently asked the state banks to balance capital flows, by boosting inflows and curbing outflow, in yet another attempt to stem Yuan outflows, Bloomberg quotes sources familiar with the matter.
Key Details:
China has asked some banks to stop processing cross-border yuan payments until they balance inflows and outflows
The directions were given verbally on Wednesday
Banks need to show at the end of the month that the amount of outgoing yuan matches that coming in
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