China doesn't restrict forex sales to individuals: regulator

Almaty. January 15. Silkroadnews – The State Administration of Foreign Exchange (SAFE) said Wednesday it does not limitforeign currency sales to individuals, although China faces dropping forex reserves, People's Daily Online informs.
SAFE denied media reports that Chinese banks put restrictions on foreign currency salesas many people are buying the US dollar, which has been appreciating against the yuan.
As usual, everyone with an ID card can freely buy foreign currency worth $50,000 everyyear from Chinese banks, according to SAFE, and those with proper reasons can buy more.
China's foreign exchange reserves fell by $107.9 billion in December to 3.33 trillion at yearend, the lowest level in more than three years.
The December decline, the sharpest monthly fall on record, was partly due to an interestrate hike last month by the US Federal Reserve and possible future rises as capital flowedout of China for higher returns.