HONG KONG: Hong Kong will lift the daily conversion limits for residents now capped at 20,000 yuan (US$3,257) before a landmark scheme to connect stock markets between Hong Kong and Shanghai gets under way next month, its central bank chief said.
While it has allowed non-residents to convert unlimited daily quantities of yuan since 2012, it caps the conversion limit for residents primarily because it wanted to prevent rampant currency speculation among residents, analysts said.
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