PBOC to raise FX reserve requirement ratio by 2 pp to 6% from 4% from 15 Nov, citing FX liquidity management. | China Day chinaday.news
Xinhua (about 08:45, citing the PBOC WeChat account), the Beijing News (about 08:43) and China Economic Net (about 09:11) reported that, to strengthen management of foreign-exchange liquidity at financial institutions, the People's Bank of China decided to raise the FX reserve requirement ratio by 2 percentage points from 4% to 6%, effective 15 November 2026. People's Daily Online carried the Xinhua dispatch. Reuters via MarketScreener and Investing.com said the move aims to tighten dollar and other FX liquidity and slow recent yuan gains, estimating about an extra $24 billion would be withdrawn based on official FX deposit data; Lianhe Zaobao also reported the hike and cited Reuters that the offshore yuan fell nearly 0.2% against the dollar after the news. SCMP said banks would have to hold a larger share of FX deposits as reserves at the central bank, expected to tighten onshore FX liquidity and potentially ease yuan appreciation pressure. The PBOC open-market page showed trading notice [2026] No. 212 that day, but an SFISF operation-result notice was still not posted (the tender is already at chinaday.news/i/77).