Watch out SMEs: a wider RMB trading band could hurt
Banks disagree on the foreign exchange implications of the PBOC’s announcement of a wider renminbi trading band, but advise SMEs to switch to invoicing in renminbi.
The People’s Bank of China (PBOC) announced that they will increase the trading band within which it allows the renminbi to be exchanged from 1% to 2% of its daily fixing rate, effective yesterday (March 17).
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