Mon, Jun 24, 2013 - Page 15 News List

King signs pound-yuan swap accord

POLE POSITION:The deal puts the Bank of England first in a race among European central banks to establish swap facilities with the world’s second-largest economy


Bank of France Governor Christian Noyer said in an interview last month that he is seeking agreement among euro-area central banks for ways of providing liquidity support in Chinese yuan.

Paris is competing with London and Zurich to become the center for yuan trading in Europe as China makes its currency more widely used around the world.

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