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Dollar Shortage in China's Foreign Exchange Market

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ONE FOR THE DOLLAR BULLS
"Resurging expectations of yuan appreciation have made dollars more scarce in China's foreign exchange market, tripling six-month dollar funding costs and creating new complications for Beijing's stable yuan policy," according to Reuters via The Economic Times. "There is an acute dollar shortage on the market," said a dealer at a Chinese commercial bank in Shenzhen. "The situation is likely to worsen in coming months as banks don't want to retain dollars and some of their clients are borrowing dollars to conduct arbitrage trading."
SOURCE:   Reuters

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