Beijing’s decision to loosen rules over cross-border usage of the yuan come after the Chinese currency rallied to a 30-month high against the US dollar. Photo: Reuters
China to relax rules on cross-border yuan use, as currency hits 30-month high against US dollar
- New rules to kick in on February 4 will make it easier for individuals, investors and companies to settle in yuan internationally
- Policy shift comes after yuan rally continues into 2021, with Beijing aiming to prevent the currency from becoming overvalued
Beijing’s decision to loosen rules over cross-border usage of the yuan come after the Chinese currency rallied to a 30-month high against the US dollar. Photo: Reuters
