NZ dollar-yuan trading may jump, following Australian example, HSBC says

Tue, 18 Mar 2014

By Tina Morrison March 19 (BusinessDesk) – New Zealand can expect exponential growth in foreign exchange trading with China after the two countries agreed to direct trading of their currencies, according to HSBC Bank, which will be involved in trading the currency pair. The agreement means the New Zealand dollar can now be directly converted to the Chinese yuan, instead of having to use the US dollar, the world’s most-traded currency, as an intermediary. When Australia made a similar agreement with China last April, its currency trading with...

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