China to ease curbs on banks' yuan trading, simplify regulations
New rules replace daily caps on forex positions with weekly limits, clarify standards for total forex positions
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Shanghai
CHINA will relax restrictions on banks' yuan trading starting in 2015, in a small but significant move towards relaxing its capital controls.
The changes will replace daily caps on banks' foreign exchange positions with weekly limits, and for the first time establish unified standards for total foreign exchange positions that banks can hold.
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