The State Banks China started selling dollars abroad to support a yuan exchange rate

The largest state banks China began to sell US dollars for purchases yuans in the offshore spot market (with immediate transfer to the buyer) at the beginning of the Asian auctions. About it writes information agency "Reuters" with reference to two sources, familiar with a situation. According to one of interlocutors, banks do it to stop yuan exchange rate falling. "National bank China on Thursday also declared weakening of rules of cross-border financings that will facilitate to local firms attraction of money from the foreign markets and will weaken the devaluation pressure upon yuan. Yuan exchange rate when strengthening in the offshore market...