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Home
> Central Banks
> Further Chinese intervention to prop up the yuan: State banks USD/CNY sellers
Central Banks
CNY

Further Chinese intervention to prop up the yuan: State banks USD/CNY sellers

Eamonn Sheridan
Eamonn Sheridan
Thursday, 17/08/2023 | 02:05 GMT
17/08/2023 | 02:05 GMT
  • 0

Major Chinese State owned banks selling dollars to buy yuan

  • had been doing so earlier this week during Asia hours, also during London and US hours
  • once again seen active today, 17 August 2023, buying USD/CNY in spot market

Earlier this week:

  • ForexLive Asia-Pacific FX news wrap: China cuts rates, data disappoint, yuan intervention

The intervention didn't make a whole lot difference. The week so far in USD/CNH:

usdcnh intervention 17 August 2023
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Tags

  • CNY
  • pboc
  • CNH
  • China
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