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The People's Bank of China raised the reserve ratio on banks' foreign currency deposits from 4% to 6%, the first increase since December 2021. The move is expected to pull about $24 billion into central bank deposits and ease upward pressure on the yuan.
By reducing the foreign currency available in the market, the step supports the dollar against the yuan, which slightly raises the cost of dollar-priced imports for Chinese feed buyers. The effect on commodity prices is limited.
nikkei.comNikkei Inc.Nov 15, 2026After 398 past bullish macro events, Chinese Yuan (CNY per USD) moved a median +0.0% over 5 sessions (56% higher; middle half -0.3% to +0.5%), and +0.0% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
