BeijingChina’s trade surplus hit a record $938.1 billion through September.
Wall Street firms are now borrowing yuan in Hong Kong’s offshore dim sum bond market.
The central bank raises the foreign-exchange reserve ratio 2 points to 6% on 15 November, locking up $24 billion, Citic Securities estimates.
Moody’s Ratings says the measure should moderate, not reverse, the yuan’s rise.
Exporters settle payables, wages and taxes in December, when yuan gains hurt most.
How each outlet framed it
drawn from 250+ reports worldwide
- Bloomberg Business
- South China Morning Post
- explains the PBOC's FX reserve requirement hike as a brake on the exporter-settlement feedback loop, citing Citic and a Shanghai exporter
Sources: Bloomberg Business, South China Morning Post