By Totem on Thursday,
China tightens rules on trade in foreign exchange markets.
China announced stricter rules on trading in futures on stock indices and foreign exchange derivatives in its attempt to jittery markets, whose weakness has raised concerns about stabilizing the health of the world’s second largest economy.
China tightens rules on trade in foreign exchange markets. According to on Wednesday published PBOC (PBOC) document, the Central Bank of China plans to the rules on trade with foreign exchange forward contracts in October, in an attempt to speculation and volatility to rein after the shock devaluation tighten currency in the past month, sources from the Bank of China told Reuters. About China tightens rules on trade in foreign exchange markets, the PBOC declined to comment when contacted by Reuters. China’s central bank plans to the rules for currency trading drag in October, after a crash curb devaluation sources with direct knowledge of the matter told Reuters on Tuesday in an attempt to speculation and volatility currency in the past month.
Wednesday paper explains the rules and will be extended to all derivatives. “The most important thing with regard to the leadership of China and China People’s Bank Management Bank in politics is a major setback” Luis Costa, head of CEEMEA FX and fixed income strategy at Citi, CNBC said Wednesday.