China's $120bn effort to prop up the yuan
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China’s FX regulator is the State Administration of Overseas Trade (SAFE).
They’ve printed knowledge for year-to-date gross sales of overseas foreign money by business banks
- 121.3bn internet FX bought January – September
SAFE provides:
- yuan trade is basiclly steady at affordable and balanced ranges
- FX mkt exhibits comparatively sturdy resilience
This text was written by Aaron Cutchburt at www.ubaidahsan.com.
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