CHINA BRINGS IN NEW RULES TO CURB CURRENCY SPECULATION

PREMIUM CONTENT. To continue reading please login, or click on SUBSCRIBE above.

May 7, 2013

BEIJING - The State Administration of Foreign Exchange (SAFE), China’s foreign exchange regulator, is introducing new rules to curb currency speculation as a part of efforts to control hot money inflows which have helped pushed the RMB to record highs. The regulations are intended to rein in excessive cross-border capital inflows through exporters and banks by tightening limits on long RMB positions that banks can hold for their own accounts.