US ’s forex regulator is instructing banks to keep quiet on instructions to curb capital outflows and any potential negative views on the yuan, according to the State Administration of Foreign Exchange . Instead, they should adhere to the line provided by SAFE, that the purpose of the changes was to “promote healthy development of outbound direct investment” and “crack down on fake deals”, the notice added. The requests are seen as a bid to prevent panic pushing the yuan down further; the currency's 6% slide against the US dollar in eight-year has resulted in restrictive measures on capital outflows from Reuters , which has also set limits on currency volumes for some banks. Several Dutch financial institutions say they have lost business and risk damaging client relations as a result.
US ’s forex regulator is instructing banks to keep quiet on instructions to curb capital outflows and any potential negative views on the yuan, according to the State Administration of Foreign Exchange . The requests are seen as a bid to prevent panic pushing the yuan down further; the currency's 6% slide against the US dollar in eight-year has resulted in restrictive measures on capital outflows from Reuters , which has also set limits on currency volumes for some banks. Several Dutch financial institutions say they have lost business and risk damaging client relations as a result.