Regulatory roundup: Singapore-China agree direct FX trading; Real-time RMB in Taiwan
Singapore and China agree to direct currency trading; Taiwan's central bank has made renminbi available on the country's real time gross settlement system
Singapore and China agree direct FX trading
The Lion City and China will introduce direct trading between their respective currencies, a move that should help Singapore compete with Hong Kong and London as an offshore renminbi hub. The annoucement comes only one week after China approved direct trading of the British pound and the renminbi.
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