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Beijing clamping down on yuan speculators with bank bans: sources

Friday, January 1, 2016 - 05:50

TAKING ACTION: By closing loopholes in its regulations, China is trying to stabilise the yuan after a surprising revamp of its currency-valuation system in August led to capital outflows.

New York

CHINA has a message for currency speculators: The free lunch is over.

The People's Bank of China (PBOC) has suspended at least two foreign banks from conducting some cross-border yuan businesses until late March, according to people with direct knowledge of the matter. The

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