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China discards black box exchange rate factor as foreign investors pour money in

Summary:
[unable to retrieve full-text content]China has taken another step to let the yuan’s exchange rate against the US dollar be more determined by market forces, reflecting policymakers’ confidence it will continue to appreciate as foreign investors pour money into mainland financial markets and the economy continues its strong recovery from the effects of the coronavirus pandemic, analysts said.The People’s Bank of China (PBOC), the country’s central bank, asked banks on Tuesday to remove the countercyclical factor (CCF) from the…

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[unable to retrieve full-text content]
China has taken another step to let the yuan’s exchange rate against the US dollar be more determined by market forces, reflecting policymakers’ confidence it will continue to appreciate as foreign investors pour money into mainland financial markets and the economy continues its strong recovery from the effects of the coronavirus pandemic, analysts said.The People’s Bank of China (PBOC), the country’s central bank, asked banks on Tuesday to remove the countercyclical factor (CCF) from the…

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