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China state-owned banks buying dollars heavily: traders
SHANGHAI |
SHANGHAI (Reuters) - Chinese state-owned banks are aggressively buying dollars for the yuan on Tuesday, traders said, but it was not clear if the buying was due to Chinese central bank intervention to keep the yuan stable.
Several traders said Chinese state-owned banks were buying dollars at various levels, suggesting they were not trying to defend the yuan at a certain level.
However, Tuesday's aggressive buying of dollars could cut the supply of the U.S. currency in the spot market in coming days, which may in turn influence the yuan's value.
(Reporting by Lu Jianxin, Karen Yeung and Koh Gui Qing; Editing by Edmund Klamann)
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They should know better by now that they will not be paid back.
They have had more than enough time to get out of the dollar.
China deserves to lose everything!
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