Traders welcome latest UK-China deal on RMB
The progress made this week in further developing London's role as an international centre for trading Chinese renminbi (RMB) has been widely welcomed by foreign exchange traders, who expect the deal to generate further interest in the currency globally.
During a visit to China, UK chancellor George Osborne secured an agreement to extend Hong Kong's renminbi qualified foreign institutional investor (RQFII) scheme to the UK, with an initial quota of 80 billion yuan. The RQFII scheme was
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