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China's Central Bank to cut forex reserve requirement ratio by 2 percentage points

September 6, 2022

BEIJING, 5th September, 2022 (WAM) -- China's Central Bank said on Monday that it will cut the forex reserve requirement ratio for financial institutions by two percentage points starting from 15th September, Xinhua news agency reported.

The reserve requirement ratio will be reduced to six percent from the current eight percent, the People's Bank of China said in a short notice on its website.

The move aims to improve the capacity of financial institutions to use forex funds, according to the notice.