China to Raise FX Reserve Requirement to 6%
China will raise the foreign-exchange reserve requirement to 6% to slow the yuan’s rally.
Story updates
03:43:56 AM UTC
SquawkNews
China's yuan weakened and looked set for the biggest one-day drop against the dollar in six months on Tuesday, after the central bank said it would raise the amount of foreign currency that financial institutions must set aside as reserves.In a statement on Tuesday, the People's Bank of China (PBOC…