China’s banks are bursting with dollars, and that’s a worry
SHANGHAI/SINGAPORE – A mountain of dollars on deposit in China has grown so large that banks are struggling to loan the currency, and traders say it poses a risk to official efforts to control a fast-rising yuan.
Boosted by surging export receipts and investment flows, the value of foreign cash deposits in China’s banks leapt above $1 trillion for the first time in April, official data shows
A previous jump, late in 2017, preceded heavy dollar selling, which turbocharged a steep yuan rally in early…
