According to Nikkei Asia, the People's Bank of China (PBOC) raised the foreign exchange reserve requirement ratio for financial institutions from 4% to 6% by 200 basis points on Sunday, marking the first increase in about five years. The report cited the central bank as saying that the move aims to strengthen the management of foreign exchange liquidity in financial institutions. Nikkei interpreted this as an effort to curb yuan appreciation that could weigh on exports. The available material does not specify an effective date.