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China's central bank will raise FX risk reserves for forward dollar purchases to 20% from zero starting September 28, making it costlier to bet against the yuan. Spot yuan barely moved on the announcement, trading near 7.15 per dollar.
The measure raises the cost of yuan shorting and may slow depreciation, which modestly supports Chinese import buying power for dollar-priced feed commodities.
investing.com26 Sep 2022Setelah 50 peristiwa kebijakan bearish sebelumnya, Yuan Tiongkok (CNY per USD) bergerak median -0,1% selama 5 sesi (46% lebih tinggi; separuh tengah -0,4% sampai +0,4%), dan -0,0% selama 20 sesi.
Pergerakan benchmark setiap komoditas dari penutupan terakhir sebelum peristiwa. Pembacaan historis menggabungkan peristiwa serupa di masa lalu; itu menggambarkan apa yang terjadi, bukan apa yang akan terjadi. Bukan nasihat investasi.
The FX risk reserve ratio hike effective Sept 28 raised the cost of shorting the yuan via forwards, curbing depreciation bets with a lagged effect.
The FX risk reserve hike to 20% was meant to curb yuan shorts, but spot barely reacted, so it only limited the move at the margin.
