Tag: RMB internationalisation

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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November 30, 2015 BY Maria Nikolova

Bank of Russia adds Chinese yuan to FX reserve basket - TASS

Just ahead of a crucial vote at the International Monetary Fund (IMF) on whether the IMF will include the Chinese currency into its special drawing rights (SDR) basket, the Bank of Russia appears to have added the yuan to its Forex reserve basket. According to a report by Russia's information agency TASS, referring to two sources…

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