China launches direct trading between RMB/CHF
Swiss franc is seventh currency to trade directly against renminbi
China has launched direct trading between RMB/CHF in a milestone move, which the country's central bank says will "contribute to the formation of [a] direct exchange rate" between the world's fifth most-traded currency and the increasingly dominant renminbi.
The People's Bank of China (PBoC) said in a statement yesterday (November 9) that it has authorised the China Foreign Exchange Trade System (CFETS) to introduce direct trading between the renminbi and the Swiss franc on the country's
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