May 26, 2017 / 12:00 PM / 7 months ago

China central bank denies reports it told banks to deposit dollars

BEIJING (Reuters) - China’s central bank has not adopted any measures requiring commercial banks to deposit dollars with it, the People’s Bank of China (PBOC) said on Friday.

A Chinese national flag flutters outside the headquarters of the People's Bank of China, the Chinese central bank, in Beijing, April 3, 2014. REUTERS/Petar Kujundzic

Reports that the central bank had ordered such deposits in order to meet liquidity needs were not true, it said on its official account on China’s Twitter-like Weibo.

Current dollar liquidity in the banking system is normal, the central bank added.

Reporting by Yawen Chen and Elias Glenn; Editing by Clarence Fernandez

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