China’s Huaxia Bank halted individual foreign exchange trading business amid currency volatility concerns
China’s Huaxia Bank halted individual foreign exchange trading business amid currency volatility concerns

China’s Huaxia Bank halted individual foreign exchange trading business amid currency volatility concerns

 

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A Chinese bank halted its foreign exchange trading business for individual investors, after a number of major Chinese lenders suspended or adjusted individual foreign exchange and precious metal trading businesses amid growing concerns over rising market volatility.

The Beijing-based bank said in a statement on Monday that it would stop offering personal foreign exchange sales and purchases from December 1 “in response to changing market conditions”.

On Tuesday, the bank pulled the original statement and said in a revised notice that the temporary changes were due to the bank implementing “optimisation” upgrades and the . . .

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