Tag: China Foreign Exchange

May 26, 2016 BY LeapRate Staff

China's SAFE again eases rules for retail foreign exchange transactions

Reuters is reporting that China's foreign exchange regulator SAFE has issued new rules simplifying procedures for individuals exchanging foreign currencies, but keeping net purchase quotas unchanged. In what Reuters is calling a minor reform, the State Administration of Foreign Exchange (SAFE) said that financial outlets designated by banks for such exchanges will no longer need…

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May 26, 2016 BY LeapRate Staff

China's SAFE again eases rules for retail foreign exchange transactions

Reuters is reporting that China's foreign exchange regulator SAFE has issued new rules simplifying procedures for individuals exchanging foreign currencies, but keeping net purchase quotas unchanged. In what Reuters is calling a minor reform, the State Administration of Foreign Exchange (SAFE) said that financial outlets designated by banks for such exchanges will no longer need…

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July 21, 2014 BY Mike Fox

Report: China’s RMB swiftly developing as major world currency

China's renminbi (RMB) is on track to become the third-largest international currency behind the US dollar and the euro within five years as the eastern nation accelerates promotion of its unit, says a study. Last year, RMB cross-border trade settlement amounted to 4.63 trillion yuan ($746 billion), up 57.5% from 2012. It accounted for 2.5%…

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