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Author Topic: China allows yuan to start trading against ruble  (Read 1220 times)
nanaimogold
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November 23, 2010, 10:43:02 PM
 #1

China allows yuan to start trading against ruble
Bloomberg News
Monday, November 22, 2010
 
SHANGHAI -- China started allowing the yuan to trade against the Russian
ruble from today in the interbank market as policy makers promote the
currency's use in global trade and finance.
 
The move will help "facilitate bilateral trade between China and Russia
and help develop yuan trade settlements," said a statement published on
the website of the China Foreign Exchange Trade System, a subsidiary of
the People's Bank of China. The ruble traded at 4.6711 per yuan as of
5:30 p.m. in Shanghai, according to CFETS data. It was little changed
from yesterday at 4.6712, according to data compiled by Bloomberg.
 
"The pace of internationalizing yuan is accelerating," said Zhao
Qingming, a senior analyst in Beijing at China Construction Bank Corp.,
the country's second-largest lender. "The direct trading between yuan
and ruble will help expand trade settlements in the two currencies."…
 
http://www.bloomberg.com/news/2010-1
1-22/china-allows-yuan-to-start-trad...
 

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November 24, 2010, 06:24:12 AM
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perhaps we could create some bitcoin buzz with spreading a similar headline

China(or US) allows yuan start trading against bitcoins ;-)

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January 11, 2011, 10:53:57 PM
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Bank of China Brings Yuan Trading to the U.S.

Quote
Bank of China Ltd., one of the country's four major state-owned banks, has opened trading in the Chinese currency to customers in the U.S., representing a symbolic endorsement by Beijing of foreign trading in the yuan.

Quote
To trade yuan in the U.S. through Bank of China, a corporation or individual would need to open an yuan account with one of the bank's branches. It has two in New York and one in Los Angeles.

  http://online.wsj.com/article/SB10001424052748703791904576076082178393532.html

And a related thread:
  http://bitcointalk.org/index.php?topic=2503.0

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