China allows 6 more foreign institutions into interbank forex market

China has allowed six more foreign institutions, including the Reserve Bank of India (RBI), to enter China's interbank foreign exchange market; they are now allowed to trade spot products, forwards, swaps, currency swaps, and options in China's domestic foreign exchange market.

January 12, 2016 10:41 pm | Updated September 23, 2016 12:01 am IST

China has allowed a second batch of foreign institutions to enter China’s interbank foreign exchange market, the country’s central bank said on Tuesday. Six central banks and international financial institutions, including Reserve Bank of India (RBI), Monetary Authority of Singapore and Bank of International Settlements, are now allowed to trade spot products, forwards, swaps, currency swaps and options in China’s domestic foreign exchange market, it said.

Last November, the first seven foreign institutions had been registered to enter the interbank foreign exchange market. — Reuters