China relaxes capital controls as pressure eases on yuan
Analysts say the move will allow for more flexibility on the yuan exchange rate; no major fluctuations seen
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Beijing
THE recent relaxation on renminbi capital controls will add more uncertainty to the exchange rate but analysts say the currency is unlikely to see any major fluctuations.
Last Friday, several Chinese media said banks are no longer required to set aside a 20 per cent deposit on forward sales of foreign exchange, a rule imposed in 2015.
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