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China's forex regulator: US dollar withdrawal limits unchanged

China2017-09-13

There has been no modification of rules on withdrawals of foreign exchange by individuals, China’s foreign exchange regulator said on Tuesday, denying reports that the frequency of US dollar withdrawals would be capped at two per week. “We have not released any new rules recently regarding domestic cash withdrawals of foreign currency by individuals,” the State Administration of Foreign Exchange (SAFE) said in a post on its official account on China’s Twitter-like Weibo. A daily withdrawal of a maximum of 10,000 US dollars is allowed from banks in China, under an existing policy prevailing since 2007, SAFE said. (REUTERS)

There has been no modification of rules on withdrawals of foreign exchange by individuals, China’s foreign exchange regulator said on Tuesday, denying reports that the frequency of US dollar withdrawals would be capped at two per week.

“We have not released any new rules recently regarding domestic cash withdrawals of foreign currency by individuals,” the State Administration of Foreign Exchange (SAFE) said in a post on its official account on China’s Twitter-like Weibo.

A daily withdrawal of a maximum of 10,000 US dollars is allowed from banks in China, under an existing policy prevailing since 2007, SAFE said.

(REUTERS)

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