SEB gets China RMB go-ahead
NEWS
The move enables the Nordic bank to provide clients with a way to manage renminbi exposures. Eddie Amin, head of trading and capital markets at SEB in Shanghai, said: "Most of our target clients in China have exposures in RMB. With this additional product, they will be able to hedge their forward foreign exchange exposures more effectively."
The next step forward for the bank is to apply for approval from the State Administration of Foreign Exchange to launch a RMB foreign exchange swaps business
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