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Source: Bloomberg News |
November 12, 2011, Saturday
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Print Edition
Print Edition
CHINA will expand the options market to let firms sell yuan options, instead of limiting them to only buying the contracts, the State Administration of Foreign Exchange said yesterday.
Exporters and importers will only be able to sell the contracts to offset options they have already bought, SAFE said. The new rules will be effective from December 1. China allowed trading of yuan options to start in April and restricted buying to those companies wanting to minimize exchange-rate risk on trade deals.
Banks must ensure companies buy and sell the currency options for trade and investment transactions only, the regulator said銆
Exporters and importers will only be able to sell the contracts to offset options they have already bought, SAFE said. The new rules will be effective from December 1. China allowed trading of yuan options to start in April and restricted buying to those companies wanting to minimize exchange-rate risk on trade deals.
Banks must ensure companies buy and sell the currency options for trade and investment transactions only, the regulator said銆
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