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China to start reserve ratio for offshore banks' domestic deposits

Move, effective from Jan 25, seen as latest bid to stem RMB speculation and manage cross-border money flow
Tuesday, January 19, 2016 - 05:50


CHINA's central bank said on Monday that it will start implementing a reserve requirement ratio (RRR) on offshore banks' domestic deposits, in what appears to be its latest attempt to stem speculation in the yuan and manage money flowing in and out of the country.


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