In this Thursday, Nov. 24, 2016, file photo, residents walk past a board highlighting the security markers on the latest Yuan note outside a bank in Beijing, China. (AP Photo/Ng Han Guan, File)
Your feedback is important to us!
We invite all our readers to share with us their views and comments about this article.
Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.
Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)
China will further tighten controls on individuals' foreign currency purchases to try to curb massive capital flight from the country as the yuan falls sharply against the dollar.The equivalent of about one trillion dollars was transferred out of China in 2015 and another $690 billion in the first ten months of 2016, according to Bloomberg Intelligence estimates.Authorities are trying to support it by buying yuan, drawing on China's foreign exchange reserves which fell by nearly $70 billion in November.
FOLLOW THIS ARTICLE