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September 30, 2016
Abstract : China announced on September 23 it will launch direct trading of its currency yuan with the riyal of Saudi Arabia and the dirham of the United Arab Emirates, on its inter-bank foreign exchange market on September 26.
BEIJING -- China announced on September 23 it will launch direct trading of its currency yuan with the riyal of Saudi Arabia and the dirham of the United Arab Emirates, on its inter-bank foreign exchange market on September 26.
The move will bring the number of foreign currencies that are allowed direct trading with the yuan to 16, according to the China Foreign Exchange Trade System (CFETS).
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