September 21, 2016 BY Mike Fox
Chinese RMB gets first clearing bank in the US
The People's Bank of China (PBOC), China’s central bank announced today it authorized Bank of China's (BOC's) New York branch to provide Renminbi (RMB) clearing services in the United States. It is the first time for China to set up an RMB clearing bank in the United States. The decision was made according to a…
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