Machine Learning

The Chinese government is buying dollars, euros and other currencies at a record pace to prop up its currency, the yuan, and to keep its export machine humming The open-market purchases of foreign currency are aimed at keeping its exchange rate from rising too quickly, which might dampen exports and economic growth China has $1.36 trillion dollars in foreign reserves. For investors bought $159 billion in Chinese bonds seeking high yields on yuan-denominated debt. Banks are buying yuan instead of dollars. An appreciating yuan invites hot money inflows making Chinese exports more expensive . https://www.bloomberg.com/news/articles/2021-06-24/chinese-banks-stockpile-record-1-trillion-of-foreign-currencies China has been buying dollars and euros to the tune of $2 billion a day in recent weeks, according to the Financial Times At the same time, Japan is now selling dollars and euros at the fastest rate in five years, while the United States is selling its foreign reserves -- the first time since the 1960s,