CHINA,
JAPAN TO START DIRECT CURRENCY TRADE FRIDAY
DATE: 29/05/2012
Japan and China will
launch direct trading of their currencies on Friday, fulfilling an agreement
last year to expand two-way financial ties. The agreement makes the yen the
only currency apart from the U.S. dollar that is directly traded with China,
the state-run Xinhua news agency said in a statement Tuesday. Xinhua cited the
People's Bank of China as saying direct currency trading would boost trade
between China and Japan and lead to mutual development of their financial
markets.
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