China state-owned banks sell dollars onshore to support the yuan: Traders

by 11:30 PM 0 comments
Chinese state-owned banks were seen selling dollars at the 6.
80 yuan per dollar level in the onshore foreign exchange market on Tuesday, two traders said.
"Major state-owned banks were selling dollars in morning trade," said a trader at a Chinese bank in Shanghai.
State-owned banks have offered dollar liquidity regularly over the past two months in what traders believe is part of efforts to support the yuan from falling too fast.

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