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RMB internationalization boosts emerging Asian market forex trading, U.S. expert

May 05, 2019


Abstract : Internationalization of the Chinese currency has significantly boosted the trading volume of currencies of emerging Asian markets (EM Asia) globally, a senior emerging market forex trader has said.

NEW YORK, May 5 (Xinhua) -- Internationalization of the Chinese currency renminbi (RMB) has significantly boosted the trading volume of currencies of emerging Asian markets (EM Asia) globally, said a senior emerging market forex trader.

"With further expansion of offshore RMB trade, the market share of EM Asia forex trading has grown significantly, which becomes a huge revenue source for major banks across the world," Kai Lin, executive director of Emerging Mark......

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