SEB launches offshore Chinese yuan services
This will give SEB’s customers access to the new offshore CNH market that started in July this year. It enables exporters and importers to invoice in CNH, giving several advantages including improved margins, as the CNH is currently trading at a stronger rate than the onshore CNY, the bank said.
“This opens up a range of new possibilities for organisations that have cross-border trade with China, and for investors and for foreign central banks to use CNH as a reserve currency,” said Petter
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