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China's Easing Of Currency Trading Rules Boosts Retail FX

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Firms forced to abandon Chinese clients in 2008 now returning.

PBOC logoThe People's Bank of China (or "PBOC"), which acts as China's central bank, announced that as of today (Monday April 16) they will allow the Yuan to trade in a band of +/- 1% per day versus the US Dollar. That is double the old band of +/- 0.5%.

As the PBOC has slowly opened things up, more and more retail Forex firms such as Gain Capital are returning to China (or targeting it for the first time), mainly via Chinese language marketing (in media outside China) and via IB relationships. And these efforts are showing results.

For more details see LeapRate's Forex Industry News at leaprate.com.

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