The RMB starts direct trading with Euro: another step towards RMB internationalization
Published on Tuesday, September 30, 2014 | Updated on Tuesday, September 30, 2014
The RMB starts direct trading with Euro: another step towards RMB internationalization
The PBoC announced yesterday that the RMB will start direct trading with the Euro, marking another significant milestone of the RMB internationalization. . Under the direct trading mechanism, the RMB market makers can directly settle their RMB/ Euro transactions. The direct trading will therefore lower transaction costs of market makers and facilitate the settlements relating to bilateral trade and investment.
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