Chinese yuan deposits fall for 4th straight month

Focus Taiwan
Date: 2018/06/18
By: Chiu Po-sheng and Frances Huang

Taipei, June 18 (CNA) Chinese yuan deposits held by banks operating in Taiwan were down at the end of May for a fourth straight month, in part because of the yuan’s recent weakening against the U.S. dollar, according to the central bank.

The balance of yuan deposits received by Taiwanese banks, including negotiable certificates of deposit (NCDs), totaled 311.28 billion yuan (US$48.34 billion) at the end of May, down 4.28 billion yuan from the end of April.

Ho Pei-chen (賀培真), a specialist with the central bank, said many investors in Taiwan decided not to renew their yuan time deposit contracts after the agreements expired amid the falling yuan.    [FULL  STORY]

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