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China’s Central Bank has recently directed state-owned banks to curb US dollar purchases as part of its ongoing efforts to manage yuan depreciation amid the escalating US-China trade tensions. The People’s Bank of China (PBOC) is actually taking active steps right now to stabilize the forex market and prevent any further weakness in the Chinese currency. JUST IN: China Central Bank asks state-owned banks to reduce US dollar purchases. — Watcher.Guru (@WatcherGuru) April 9, 2025 Also Read: Trump Is Not Bothered About The Recent Market Crash: Here’s Why China’s Currency Management Strategy Source: Reuters . PBOC Issues “Window Guidance” to Banks The PBOC has reportedly issued informal “window guidance” to major state-owned banks this week, essentially instructing them to avoid buying dollars for their own accounts. China’s Central Bank also directed these institutions to increase scrutiny when processing client dollar purchase orders, a me...

The forex market is dynamic with changes occurring every minute of the day’s trade. BRICS is doing everything to topple the US dollar from the world’s reserve status and replace it with local currencies. Despite their best efforts, the de-dollarization agenda is yet to become a reality as the USD still dominates the financial sector. This puts a major dent in their initiative as the greenback reigns supreme even after multiple attempts to bring it down. Also Read: BRICS: New Country Rejects Local Currency for Oil, Wants US Dollar BRICS: 8 Currencies That Dominate the Financial World Source: euroschoolindia.com Even after BRICS placed local currencies ahead for trade, the US dollar is the most used tender for cross-border transactions. The majority of the world uses it for trade settlements as it sustains the market’s whiplash. The USD does not dramatically head south and is backed by various global economic participants who trust the currency. Below is the list of the...