China's FX forwards measure is not capital control: central bank
[BEIJING] China's central bank defended on Tuesday new regulations imposed on the currency forwards market this month, saying they were not a form of capital control and were introduced after investors had speculated in the market.
The controls would help to stabilise China's financial system at a time when increased yuan volatility is likely to cause more companies to incur foreign exchange losses, the People's Bank of China said in a statement on its website.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
BOJ will hike rates if trend inflation accelerates, says Ueda
India’s economic activity continues to expand
Thailand’s 500 billion baht stimulus project gets Cabinet approval
China finance ministry echoes Xi’s call for bond trading at PBOC
Blackstone-owned Crown Resorts can keep Sydney casino licence, regulator says
Silent and brooding, Trump endures courtroom ordeal