Chinas yuan will start direct trading with the New Zealand dollar - TopicsExpress

Chinas yuan will start direct trading with the New Zealand dollar from today as the two countries tighten economic links and China expands the use of its currency in international trade and investment. The move could cut foreign exchange costs for traders in the two countries as it removes the need to use the US dollar as an intermediary for settling a transaction, the Peoples Bank of China said yesterday. The new measure will encourage use of the yuan and the New Zealand dollar in bilateral trade and investment, and enhance financial cooperation between the two countries, the central bank said. Read more: goo.gl/ncHIFX

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