Huaxia Bank this week became the latest Chinese commercial lender to suspend its personal foreign exchange trading business amid expectations of greater geopolitical tensions and currency volatility. Photo: Reuters
Huaxia Bank this week became the latest Chinese commercial lender to suspend its personal foreign exchange trading business amid expectations of greater geopolitical tensions and currency volatility. Photo: Reuters

Huaxia joins Chinese banks halting forex services amid currency volatility concerns, but move leaves customers anxious

  • Tightening of services comes months after Huaxia was fined US$15.2 million for not properly warning clients about the potential risks of investment products
  • Analysts point to regulator concerns over yuan volatility, as ‘significant investor losses could potentially become a source of social instability’

Huaxia Bank this week became the latest Chinese commercial lender to suspend its personal foreign exchange trading business amid expectations of greater geopolitical tensions and currency volatility. Photo: Reuters
Huaxia Bank this week became the latest Chinese commercial lender to suspend its personal foreign exchange trading business amid expectations of greater geopolitical tensions and currency volatility. Photo: Reuters
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