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Title: China starts direct yuan-Euro trade
Source: [None]
URL Source: [None]
Published: Sep 29, 2014
Author: staff
Post Date: 2014-09-29 23:30:45 by Tatarewicz
Keywords: None
Views: 48

BEIJING, Sept. 29 (Xinhua) -- China's central bank has allowed the China Foreign Exchange Trading System to carry out direct trading of the yuan against the Euro, it announced on Monday.

"Direct yuan-Euro trade is good for... reducing exchange costs for market players," the People's Bank of China (PBOC) said in a statement on its website.

The PBOC vowed to give "active support" for yuan-Euro direct trading, saying it will help deepen bilateral economic and financial relationships.

Earlier this year, China allowed direct domestic trading of the yuan against the British pound and New Zealand dollar to encourage such trading as it internationalizes the Chinese currency. Editor: Luan

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