Loosening of Foreign Exchange Rumor RefutedThe State Administration of Foreign Exchange (SAFE) said Friday it is a rumor that the State has loosened the limits of trading RMB with foreign currencies by students going abroad for further studies.A spokesman for the SAFE reiterated that each student who wants to study abroad for a bachelor's degree or above can exchange 2, 000 U.S. dollars or the equivalent amount of other foreign currencies, at a designated bank with a visa issued by the designated country. If the student needs more than 2,000 U.S. dollars of foreign currency, he or she should present a special application to a local branch of the SAFE; and if the demand exceeds 50,000 U.S. dollars, the student should apply to the head office of the SAFE, the spokesman said. |
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