China to raise forex deposit reserve ratio to 6% starting November 15

BEIJING, Nov 3 (Reuters) - China's central bank said on Tuesday it will raise the foreign exchange deposit reserve ratio ⁠for financial institutions to 6% from 4% from November 15.

The decision to raise the ratio is aimed ⁠at strengthening the management of foreign exchange liquidity ⁠in financial institutions, the People's Bank ⁠of China said.

Reporting by ⁠Liz Lee and Beijing newsroom; Editing by Jacqueline Wong