Bloomberg report on around $18.8 billion worth of yuan to sell in those three months

(or the portion of it not already hedged I'll just add in …. )

  • to fund their dividend bill
  • less than last year's $19.6 billion

Adds Bloomberg:

  • the payments come at a sensitive time: the yuan is at its weakest this year and speculation is mounting it will fall to 7 per dollar, regarded as a key psychological level.

"The yuan will face seasonal depreciation pressures," said Tommy Ong, managing director for treasury and markets at DBS Hong Kong Ltd. "But a more important driver for the exchange rate is the trade talks. The currency may weaken towards 7 amid the negotiations, but won't break that level as that would agitate the U.S."

Link for more

Agitate the US? China? Nah, they wouldn't do that? :-D