Reg roundup: Direct RMB/NZD trading; New transfer pricing standards; Sing to create RMB RTGS
China kicks off direct kiwi dollar/RMB trading; OECD's transfer pricing standards; Singapore to create RMB RTGS system
China kicks off direct kiwi dollar/RMB trading
As of today (March 19), China will allow the direct exchange between the renminbi and the New Zealand dollar. Experts expect the move will help lower the previously necessary reliance on the US dollar a medium of exchange, reduce FX exposures and potential improve terns of trade for exporters and importers in China and New Zealand. The move follows the launch of the Australian dollar/renminbi direct conversion that started last year.
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