China regulator to allow sterling/renminbi trading
NEWS
In China's latest effort to reform its FX market, the State Administration of Foreign Exchange has approved spot, forward and swap trading between the renminbi and sterling on China Foreign Exchange Trading System (Cfets). Cfets already enables trade between the renminbi and four foreign currencies: the euro, yen, Hong Kong dollar and US dollar.
While this announcement represents another small step in liberalising the country's FX regime, observers say its impact will be limited. Stephen Green, a
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