Deutsche Bank executes first direct EUR/CNY trade
Just hours after the PBoC approves direct trading between euro and renminbi
Deutsche Bank, one of the world's largest currency traders, has executed a direct trade of euros with onshore renminbi (CNY) for the first time, the bank announced.
The transaction comes a day after the People's Bank of China (PBoC), the country's central bank, authorised direct trading between the renminbi and the euro on the interbank foreign exchange market.
The German bank initiated the trade with Bank of China (BoC) as its counterparty.
A EUR/CNY transaction represents the first step in
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact customer services - www.fx-markets.com/static/contact-us, or view our subscription options here: https://subscriptions.fx-markets.com/subscribe
You are currently unable to print this content. Please contact customer services - www.fx-markets.com/static/contact-us to find out more.
You are currently unable to copy this content. Please contact info@fx-markets.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@fx-markets.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@fx-markets.com
More on Foreign Exchange
Average reported daily UK FX turnover hits record high
Daily turnover of $2,881bn in October 2019, up 2% from previous high of $2,821bn in April
PBoC injects 1.2 trillion yuan as markets plunge
Chinese central bank eases to support economy as coronavirus spreads; Q1 GDP growth could drop to 4%
Spot volumes on platforms resumed downward trend in 2019
But an uptick was seen in FX swaps and forwards submitted for settlement
PBoC extends market closure as coronavirus spreads rapidly
Chinese central bank extends interbank markets closure and vows to maintain ample liquidity
