China to Start Direct Yuan-Australia Dollar Trading-Shanghai Metals Market

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China to Start Direct Yuan-Australia Dollar Trading

Industry News 08:55:46AM Apr 10, 2013 Source:SMM

BEIJING, April 9 (Xinhua) -- The China Foreign Exchange Trade System said on Tuesday that it will start direct trading of its currency against the Australia dollar based on market principals.

The move will promote the use of the yuan and the Australia dollar in bilateral trade and investment, and strengthen financial cooperation between the two countries, according to a statement issued by the People's Bank of China (PBOC).

The PBOC said it supports the measure, which will play a key role in pushing forward bilateral trade ties.

 

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#1 Refined Cu
Oct.18
46740.0
40.0
(0.09%)
Standard-Grade Copper
Oct.18
46730.0
40.0
(0.09%)
High-Grade Copper
Oct.18
46750.0
45.0
(0.10%)
Guixi copper
Oct.18
46750.0
40.0
(0.09%)
Low-quality copper
Oct.18
46700.0
45.0
(0.10%)

China to Start Direct Yuan-Australia Dollar Trading

Industry News 08:55:46AM Apr 10, 2013 Source:SMM

BEIJING, April 9 (Xinhua) -- The China Foreign Exchange Trade System said on Tuesday that it will start direct trading of its currency against the Australia dollar based on market principals.

The move will promote the use of the yuan and the Australia dollar in bilateral trade and investment, and strengthen financial cooperation between the two countries, according to a statement issued by the People's Bank of China (PBOC).

The PBOC said it supports the measure, which will play a key role in pushing forward bilateral trade ties.