Three more banks get green light to trade RMB forwards
NEWS
The Shanghai branches of JP Morgan Chase and Sumitomo Mitsui Banking, and the Beijing branch of Deutsche Bank, joined the elite pool of foreign banks now able to trade RMB forwards onshore. Meanwhile, the approval of Export-Import Bank of China brings the number of domestic banks eligible to take part in the new RMB forwards market up to five.
The RMB forwards market was launched on August 15 following new regulations issued by the People's Bank of China (PBoC) the week prior to that. They
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