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China to launch new currency swaps

CCTV.com

12-26-2014 16:52 BJT

China plans to launch new derivatives next week. Policymakers here are set to launch swaps and forwards between the RMB and the Russian Rouble, Malaysian Ringgit and New Zealand Dollar. 

The China Foreign Exchange Trade System, a unit of China’s central bank, says trading will begin this coming Monday. The contracts will have a minimum trading size equivalent to 10,000 US dollars. Analysts say the move offers Chinese mainland companies an additional hedging tool, as emerging market currencies have recently been volatile.

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