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China Said to Consider Yuan-Swiss Franc Direct Trading Link

  • Swiss franc would become seventh major currency to have a link
  • Move would help further yuan's internationalization, OCBC says

The People’s Bank of China is considering starting direct trading between the yuan and the Swiss franc, according to three people with direct knowledge of the matter.

The Swiss franc would become the seventh major currency to be exchangeable directly for yuan in Shanghai, joining the U.S., Australian and New Zealand dollars, the British pound, the Japanese yen and the euro. Direct trading means transactions between the yuan and the franc would bypass a conversion into the greenback. The people asked not to be identified as they aren’t authorized to speak publicly.