According to Chinese banking sources of Reuters 19 April
- China no longer demanding that banks match cross-border inflows/outflows
The controls were put in place a few months ago to curb yuan devaluation/outflows but policy started to shift last week according to the sources.
They report that Chinese leaders and fin markets feel more confident that pressure on the yuan and the nation's FX reserves has diminished thanks in no small part to the USD retreat generally.
