PBoC gives OTC foreign exchange go-ahead
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At the same time, the Chinese central bank authorised the China Foreign Exchange Trading System (Cfets) to determine the daily central parity rate for the RMB against foreign currencies.
The foreign banks confirmed last Friday by Chinese authorities as yuan liquidity providers are ABN Amro, Citigroup, Standard Chartered, Bank of Montreal and HSBC. Meanwhile, domestic banks include Bank of China, China Construction Bank, CITIC, China Merchant Bank, ICBC, Chiao Tung Bank, Agricultural Bank of
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