送交者: jiangzhaiwai 于 2006-3-28, 12:49:18:
回答: 外汇是怎么进入中央银行的？ 由 桂铭 于 2006-3-28, 12:34:21:
SAFE (State Admin. of ForEx) intervenes on the exchange market to buy dollars so that RMB won't appreciate too much. Only these constitutes reserve. By definition reserve is asset held by central bank to back currency issuance.
As for those ForEx deposited in Chinese commercial banks, they could end up in multiple places: the banks could have sold to the central bank, or the banks could make forex denominated loans. The balance (other than vault cash) are invested in foreign securities by the commercial bank.