Reuters first to statement China’s FX limiter surveyed banks, businesses on yuan danger

Reuters first to statement China’s FX limiter surveyed banks, businesses on yuan danger

October 1, 2021 Off By Sindy Thompson

Source : Reuters

Business & Finance

Reuters was first to report that China’s currency regulator, the State Administration of Foreign Exchange (SAFE), has been conducting a rare survey of banks and companies to ask about their risk management processes and ability to handle volatility in the yuan. The SAFE did not give a reason for the survey, but its timing suggests Chinese authorities are girding for currency volatility as the Federal Reserve and other major central banks wean economies off massive pandemic-era stimulus, and are keen to avoid a repeat of the violent yuan slide during U.S. tightening in 2015-2016.

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

Source: Reuters