China omits US dollar from forex trading fee waivers in bid to bolster yuan

//China omits US dollar from forex trading fee waivers in bid to bolster yuan

China omits US dollar from forex trading fee waivers in bid to bolster yuan

China is waiving transaction fees between the yuan and 12 currencies, including the Singapore dollar, Russia rouble and Korean won, for three years in its onshore foreign exchange market in a clear move to skirt the US dollar.China’s exchange regulator, the State Administration of Foreign Exchange (SAFE), said in a notice on Monday that it was waiving fees associated with bidding and asking prices in interbank trading of the yuan and the dozen currencies from August 1.The other nine currencies…

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By | 2020-08-05T09:37:23+00:00 August 5th, 2020|Headlines|Comments Off on China omits US dollar from forex trading fee waivers in bid to bolster yuan