Translation. Region: Russian Federation –
Source: People's Republic of China in Russian – People's Republic of China in Russian –
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Source: People's Republic of China – State Council News
BEIJING, Feb. 27 (Xinhua) — The People's Bank of China (PBOC, the central bank) announced on Friday that it will ease reserve requirements for foreign exchange forward contracts, which serve as a currency risk hedging tool, from March 2 this year.
The reserve requirement for currency forwards will be reduced from the current 20 percent to 0 percent, the Central Bank said in a statement.
It is emphasized that the main goals of this decision are to facilitate the development of the foreign exchange market and support enterprises in managing foreign exchange risks.
The People's Bank of China (PBOC) pledged to continue to assist financial institutions in optimizing their corporate foreign exchange risk management services and to maintain the RMB exchange rate basically stable at a reasonable and balanced level.
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