Some commercial banks in China have been asked to suspend purchase of US dollars a move that is meant to slow the pace of yuan depreciation, the sources said.
One source said the China’s currency regulators were emphatic banks should hold off dollar purchases under their proprietary trading accounts.
Chinese yuan has lost 3.6% against the U.S. dollar so far this year, hitting 7.16 per dollar on Tuesday to be one of Asia’s worst performing currencies.
