PBOC Raises Foreign Exchange Deposit Reserve Ratio to 6%
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On 4 November 2026, the People's Bank of China announced that it would raise the foreign exchange deposit reserve ratio by 2 percentage points, from 4% to 6%, effective from 15 November. After the announcement, the offshore renminbi depreciated by up to 0.28%, while the onshore renminbi fell 0.1%, the largest single-day depreciation since end-September. Goldman Sachs believes the move reflects the PBOC's heightened concern over the pace of renminbi appreciation over the past two months.
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- 明報·每日經濟人行上調外匯存款準備金率至6% 在岸人民幣跌0.1%
人民銀行公布將外匯存款準備金率上調2個百分點，由4%升至6%，11月15日起生效。消息公布後，離岸人民幣曾貶值最多0.28%，在岸人民幣貶0.1%，為9月底以來最大單日貶幅。高盛認為此舉反映人行對過去兩個月人民幣升值速度的擔憂加劇。
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Current activity9·Peak across comparable sources10（4 Nov, 06:00）·Change across comparable sources in 24 hours –
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