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China's State-Owned Banks Exchange Dollars For Yuan To Bolster Currency: Report
Tuesday, December 5, 2023 - 3:44am | 413State-owned banks in China have been observed trading U.S. dollars for yuan in an effort to support the Chinese currency. What Happened: On Tuesday, major Chinese banks were witnessed swapping yuan for dollars in the onshore swap market and selling those dollars in the spot market, sources with...