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FX Regulator Says Comfortable With Yuan

CHINA

Comments from China's FX regulator SAFE filtering through. Says that the yuan is in a reasonable range in terms of international BOP impact and plans to deepen reform and further open up the FX sector in 2021.

  • Says will monitor cross border FX flows in bond markets, and will prevent abnormal cross border flows.
  • As a note data from compiled by Bloomberg showed Chinese banks bought a net CNY 435.8bn of foreign currency in 2020.

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