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China central bank relaxes yuan hedging rules as currency strengthens, capital outflows ease

Reuters  |  BEIJING 

BEIJING (Reuters) - China's central bank on Monday scrapped two measures that were put in place to support the yuan when it was under significant selling pressure, suggesting Beijing is anxious to quash one way bets on the yuan as outflows ease and exporters face strain. The move comes as the yuan bounced sharply this year to hit a near two-year peak on the dollar last week, giving authorities the confidence to relax their grip on a currency that had stumbled badly in 2016 and raised risks to economic stability.With China's economy humming along at a solid pace and putting to bed concerns of ...

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First Published: Mon, September 11 2017. 15:11 IST