BEIJING/SHANGHAI (Reuters) -China's central bank is tightening its scrutiny of bulk dollar purchases by domestic firms, three sources with direct knowledge ...
STORY CONTINUES BELOW THESE SALTWIRE VIDEOSBEIJING/SHANGHAI -China's central bank is tightening its scrutiny of bulk dollar purchases by domestic firms, three sources with direct knowledge of the matter said on Monday, at a time when the Chinese currency faces mounting depreciation pressure.
The central bank has warned some lenders of their huge dollar purchases on behalf of their corporate clients, according one of the other sources. The PBOC had no immediate comment on plans to increase its scrutiny of dollar purchases when contacted by Reuters. Sources told Reuters last month that China's currency regulators asked some banks to reduce or postpone their purchases of U.S. dollars in order to slow the yuan's depreciation.
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