# Chinese banks boost dollar rates to curb yuan rally

> Chinese banks raised dollar deposit rates to 4.5% to slow yuan's four-year high surge.
- Title: Chinese banks boost dollar rates to curb yuan rally | Shortify
- Summary: Chinese banks raised dollar deposit rates to 4.5% to slow yuan's four-year high surge.
- Keywords: dollar deposit rates china, people's bank of china, reuters, yuan rally four-year high, dollar deposit rates, chinese banks, yuan, Startup Fortune
- Source: Startup Fortune — https://startupfortune.com/chinese-banks-lift-dollar-deposit-rates-to-slow-the-yuan-rally-reuters-says
- Published: 2026-11-09T06:01:49+00:00
- Read time: 1 min
- Topics: dollar deposit rates china, people's bank of china, reuters, yuan rally four-year high, dollar deposit rates, chinese banks, yuan, startups, business
## Beijing targets exporters
Beijing wants exporters to hold dollars instead of selling them for yuan.
## Dollar deposit rates rise
Dollar deposit rates at Chinese banks reached 4.5% in late October, the highest since 2023.
## Yuan rates lag behind
Yuan deposit rates at major state lenders are 0.95%, far below dollar rates.
## Six banks adjust rates
More than six banks, including state-owned and foreign lenders, raised dollar deposit rates.
## Yuan at four-year high
The yuan has reached a four-year high of 6.6449 per dollar.
## Anonymous sources
All bank details come from anonymous sources not authorized to speak to media.
## PBOC reserve requirement
The People's Bank of China will raise foreign exchange reserve requirement from 4% to 6% on November 15.
## Key takeaway

Chinese banks increased dollar deposit rates to 4.5% to counter yuan's rally to a four-year high of 6.6449 per dollar.