Japanese media said the yen and the renminbi direct trading to start in June
Tokyo 526, Japan media on the 26th,
Xinhua reported that the direct trading of the yen and the renminbi is expected as early as this 6 start in Tokyo and Shanghai markets.
ďJapanese Economic News Network reported, Mitsubishi Tokyo UFJ Bank of Japanís three major banks and Bank of China (601988) , Hong Kong and Shanghai Banking Corporation will participate in the yen and yuan of direct trading business. The banks involved in the transaction will be decided in Tokyo and Shanghai markets the yen against the RMB exchange rate, which provides trading services to enterprises and other customers.
At present, the yen and the yuanís trading basic to the U.S. dollar as an intermediary currency. Japanís Kyodo News reported that the Sino-Japanese currencies such as the direct exchange, the yen will be the first addition to the U.S. dollar, direct transactions in foreign currency and RMB, which not only helps to relieve enterprises of Japan and China exchange rate risks and transaction costs, and further promote the Sino-Japanese trade and investment activities, and also help to improve the status of the yen and the renminbi in international financial markets.
To 12 Noda, Japanese Prime Ministerís visit to China during the Sino-Japanese to strengthen financial cooperation to reach agreement. This 2 Bank of Japan Deputy Governor Kiyohiko Nishimura appeal in a public speech to promote the direct yen and the yuan trade settlement, and cultivate the financial market of the Japanese yen and the yuan to deal directly.
Japanese media said the yen and the renminbi direct trading to start in June | Finance online - Financial Advice|Financial Planning