China to ease bank forex rules

Roughly six months after allowing minimal yuan float vs. the dollar, China's currency regulator is laying the groundwork to allow more banks to offer forex derivatives.

An official statement, posted on the Chinese language version of the website of the State Administration of Foreign Exchange, indicates smaller banks can work with larger partners to offer the products to corporate clients.

The move is a further relaxation of China's foreign exchange policies. Since China allowed the yuan to fluctuate somewhat on the world market, the Chinese currency has risen to nearly five-year highs vs. the dollar.

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