Reuters and other wires reporting from unnamed sources

  • People Bank of China keen to check to prevent cross-border flows/arbitrage
  • PBOC has raised trading for some banks to settle their clients' fx deals in domestic forex market
  • fees have been raised as high as 0.3% for certain banks compared with a negligible 0.0002-0.0003% for most banks

PBOC having to tighten up what they've unleashed this year in a bid to achieve yuan credibility

PBOC - checking on fx trade validity