
China's higher reserve requirement for foreign-currency deposits took effect on 15 November, raising the ratio for financial institutions from 4 percent to 6 percent. The PBOC announced the two-point increase on 3 November to manage foreign-exchange liquidity.
The measure does not change the reserve requirement for renminbi deposits.
Tighter foreign-currency liquidity is intended to ease yuan appreciation pressure, which has limited direct effects on feed commodity prices but may slightly affect Chinese dollar demand for imports.
After 169 past neutral macro events, Chinese Yuan (CNY per USD) moved a median +0.0% over 5 sessions (50% higher; middle half -0.3% to +0.2%), 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.