Econ and Finance - 28 Oct 2020

Another technical tweak for the yuan

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The People’s Bank of China (PBoC) has phased out the “X-factor,” a counter-cyclical component of the calculations behind the yuan’s daily fixing.

Some context: The 14 banks that submit the daily quotes upon which the fixing is calculated had used the X-factor since January 2017 as a part of...


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