China tells state banks to prepare for a massive dollar dump and yuan buying spree as Beijing’s prior interventions have failed to stem its currency’s worst

Cristopher Centers

Chinese President Xi Jinping.Kevin Frayer/Getty Images Reuters reported that China told state-owned banks to get ready to sell dollars and buy yuan in an effort to prop up the local currency. The move could stem the yuan’s fall, as it remains on track for its largest annual loss against the […]