London Metal Exchange to accept renminbi as collateral
Offshore Chinese currency now accepted as security
The London Metal Exchange (LME), the world's largest venue for trading metals, has announced it can now accept offshore renminbi (CNH) as eligible cash collateral, following regulatory approval from the Bank of England.
The offshore version of the Chinese currency is currently the fifth most-used currency for international payments and it is set to become more popular in the coming years.
"The renminbi is on its way to becoming one of the world's most widely used currencies, and we are pleased
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