Business & Finance

Reuters details how China’s huge dollar deposits a worry

Reuters detailed how a mountain of dollars on deposit in China has grown so large that banks are struggling to loan the currency and traders say it poses a risk to official efforts to control a fast-rising yuan. A previous jump, late in 2017, preceded heavy dollar selling which turbocharged a steep yuan rally in early 2018. Market participants say the size of the even bigger hoard this time raises that risk and leaves policymakers’ efforts to restrain the yuan vulnerable to the whims of the exporters and foreign investors who own the cash. 

Article Tags
Topics of Interest: Business & Finance
Type: Reuters Best
Sectors: FX & Fixed Income
Regions: Asia
Countries: China
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Important Regional Story
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