Tag: rmb clearing

April 26, 2016 BY Maria Nikolova

UK becomes second largest offshore RMB clearing centre – SWIFT

According to SWIFT’s latest RMB tracker, the United Kingdom has become the second largest offshore RMB clearing centre, as the UK's RMB payments value rose by 21% between March 2014 and March 2016. The United Kingdom lags behind Hong Kong in the ranking. Singapore overtook the United Kingdom in February 2014, but the trend began…

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December 28, 2015 BY Maria Nikolova

China, UAE agree to establish RMB clearing hub

The internationalization of the Chinese currency keeps gathering pace, as the United Arab Emirates (UAE) and China have signed an agreement to establish a clearing hub for the Chinese Yuan or Renminbi, Xinhua reported on Sunday referring to UAE media sources. This will be the second RMB clearing hub in the Middle East after Qatar launched the…

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