CLS discusses renminbi inclusion with PBoC

Talks still in the exploratory phase

In the pink: renminbi will benefit from CLS inclusion, say panellists

CLS has been in discussions with the People's Bank of China (PBoC) on whether to include the renminbi in the universe of currencies it settles, but despite "several years" of talks, the process is still in the exploratory phase, a representative from the utility told delegates at the 14th FX Week Europe conference.

"We've been in discussion with central banks, including the PBoC, for several years. This is a very exploratory phase still – it's one of the preliminary phases," said Juan Gutierrez

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