Alert
China's state-owned banks reportedly buying US dollar
China's major state-owned banks have reportedly been observed buying the US dollar in the currency markets. This action involves selling the Chinese yuan (CNY) and purchasing USD.
While specific details regarding the volume or the precise duration of these purchases remain undisclosed in the initial report, such moves by state-owned banks are often interpreted by market participants as efforts to manage the exchange rate or stabilize the yuan amidst currency fluctuations.