Citi first in Chinese FX
NEWS
SHANGHAI -- Citibank, part of Citigroup, last week became the first international bank allowed to trade forex with Chinese customers in China.
The bank began dealing operations in Shanghai last Thursday (March 21), after receiving a licence from the People’s Bank of China (PBoC), a spokesperson for Citi in Shanghai told FX Week.
The licence is only currently valid for operations in Shanghai, but may be extended to include other cities.
Citibank already has operations in China, but, said the
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