中國新加坡開始外匯直接交易
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The China Foreign Exchange trading System says it will carry out direct trading of the Chinese yuan against the Singapore dollar beginning Tuesday.
中國外匯交易中心稱，週二開始將實行中國人民幣對新加坡新幣的直接交易。
The move announced today aims to boost bilateral trade and investment, facilitate the use of the two currencies in trade and investment settlement, and reduce exchange costs for market players.
China's interbank foreign exchange market will kick off direct trading between the Chinese yuan and the Singapore dollar via spot, forward, and swap contracts.
The announcement followed the direct trading of the yuan against the euro, the British pound, the Japanese yen and the New Zealand dollar amid the country's efforts to internationalize the Chinese currency.
