November 11, 2016 / 9:22 AM / a year ago

China to launch yuan direct trading pair with Canadian dollar

BEIJING (Reuters) - China will establish a direct trading pair between its yuan currency and the Canadian dollar in the interbank foreign exchange market from November 14, the operator of its forex trading platform said on Friday.

A Canadian dollar coin, commonly known as the "Loonie", is pictured in this illustration picture taken in Toronto January 23, 2015. REUTERS/Mark Blinch

Direct trading between the currencies will help cut companies’ foreign exchange costs and spur two-way trade and investment, the China Foreign Exchange Trade System (CFETS) said.

Reporting by Beijing Monitoring Desk; Editing by Clarence Fernandez

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