China has released new rules to curb currency speculation amid signs that hot money inflows have helped push the yuan to a series of record highs in recent weeks.
The rules tighten limits on long yuan positions that banks can hold for their own accounts and aim to discourage firms from using dollar loans as a means to speculate on yuan gains.
Regulators will also increase scrutiny on exporters who channel money into the country disguised as trade payments, according to the announcement from the State Administration of Foreign Exchange (SAFE) on Sunday.
Read Full Article HERE
Gabriel Wildau, Reuters via CHINA US Focus http://feedproxy.google.com/~r/ChinaUsFocus/~3/B1nEeQQCRis/
No comments:
Post a Comment