China Hits a Bump, or Two, on Road to an Internationalized Yuan

China’s latest measures to shore up its currency and plug an outflow of capital risk setting back the long-held goal for an internationalized yuan.
The People’s Bank of China said Monday that lenders in offshore yuan-trading centers will now have to lock away a share of deposits in its accounts, ending the exemption for foreign institutions in a push to curb speculation against the currency. That followed large-scale intervention in Hong Kong last week that sent yuan borrowing rates in the city soaring to a record as liquidity was temporarily crunched.

http://www.bloomberg.com/news/articles/2016-01-18/china-hits-a-bump-or-two-on-road-to-an-internationalized-yuan

Related

JOIN THE DISCUSSION