HK yuan cap re­moval to fuel de­mand, for­wards ad­vance

China Daily (Canada) - - BUSINESS -

Yuan for­wards in­Hong Kong ad­vanced for the first time in three days on bets de­mand for the cur­rency will rise as the city re­moves a limit on the amount of yuan res­i­dents can buy. Hong Kong will scrap a 20,000 yuan ($3,266) daily con­ver­sion cap on per­ma­nent res­i­dents on Nov 17, the same day that a stock trad­ing link be­tween the city and Shang­hai starts. BOCHong KongHold­ings Ltd, the ter­ri­tory’s yuan­clear­ing bank, said it will of­fer yuan mar­gin

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