RMB exchange-rate freedom for Chinese banks

Controls on RMB exchange rate lifted by Safe


For the first time, Chinese banks will be able to set their own USD/RMB exchange rate when dealing with clients, after the country's State Administration of Foreign Exchange (Safe) regulator announced further currency liberalisation on July 2.

Previously, the bid/offer spreads that banks could offer in the currency pair were subject to regulatory controls. Alongside this change, Safe intends to make it easier for its domestic banks to offer foreign exchange products such as options, forwards and

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact customer services - www.fx-markets.com/static/contact-us, or view our subscription options here: https://subscriptions.fx-markets.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a FX Markets account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: