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China’s foreign exchange regulator, the State Administration of Foreign Exchange (SAFE) announced today that it will allow banks to issue more FX-related products for risk-hedging purposes. This will include allowing banks to hold bigger short-dollar positions at the end of the day, according to a statement on its website.
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SAFE, which is responsible for drafting rules and regulations governing foreign exchange market activities and managing the state foreign exchange reserves, announced the move as part of the Chinese ... (read more)