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 banks121.3bn net FX sold January - SeptemberSAFE 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.

Oct 22, 2024 - 08:25
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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.
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