China Boosts Yuan Support With Warning, Capital Control Tweaks [Yahoo! Finance Canada]
OVERSEAS CHINSE UNSP/ADR (OVCHY)
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Source: Yahoo! Finance Canada
Most Read from Bloomberg The People's Bank of China and other regulators will strengthen their management of the foreign-exchange market, deal with any behavior that may disrupt market order and prevent the risks of an overshoot in the yuan. Beijing will make sure the currency is basically stable at reasonable levels, the central bank said in a statement. Also on Monday, the PBOC adjusted its rules to allow firms to borrow more from overseas. It raised the so-called macro-prudential parameter for companies and financial institutions cross-border funding to 1.75 from 1.5, according to a statement. The last time it made a similar move was in July 2023. The yuan's tumble in recent months, spurred by a sluggish Chinese economy, a stronger dollar and potential US tariff hikes, has traders pondering the PBOC's commitment to defend the currency. So far, the central bank has been holding the daily fixing slightly stronger than the 7.2 threshold to offer support since Donald Trump won t
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