CHINA BANKS RAISES DOLLAR DEPOSIT RATES AMID YUAN STRENGHT

Several Chinese banks have raised dollar deposit rates in recent weeks, sources said, in a move some traders say is likely aimed at slowing the pace ​of yuan appreciation.

At least five commercial banks, ranging from state-owned lenders to smaller ‌joint-stock banks, have lifted the dollar deposit rates they offered to their clients, according to the sources with knowledge of the matter. One source said her bank was "making a push to effectively woo ​dollar deposits from new clients."

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