Chinese Regulator Asks Banks to Survey Impact of Stronger Yuan
- Big banks said to survey local corporates on FX conditions
- Yuan has recouped a bulk of this year’s weakness in August
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China’s foreign-exchange regulator is gauging the impact of a stronger yuan on exporters, according to people familiar with the matter, as the currency rebounds from an eight-month low against the dollar.
At least three regional branches of state-owned lenders were asked by the State Administration of Foreign Exchange to assess the situation their clients face in surveys, said the people who asked not to be identified discussing private matters. Questions included hedging costs, currency risks and the impact of a stronger yuan on orders and profit, they said.