Japanese media said the yen and the RMB direct trading to start in June

[ChineseTiger1986]

Japanese media said the yen and the renminbi direct trading to start in June

Tokyo 526, Japan media on the 26th,

Xinhua reported that the direct trading of the yen and the renminbi is expected as early as this 6 start in Tokyo and Shanghai markets.


“Japanese Economic News Network reported, Mitsubishi Tokyo UFJ Bank of Japan’s three major banks and Bank of China (601988) , Hong Kong and Shanghai Banking Corporation will participate in the yen and yuan of direct trading business. The banks involved in the transaction will be decided in Tokyo and Shanghai markets the yen against the RMB exchange rate, which provides trading services to enterprises and other customers.


At present, the yen and the yuan’s trading basic to the U.S. dollar as an intermediary currency. Japan’s Kyodo News reported that the Sino-Japanese currencies such as the direct exchange, the yen will be the first addition to the U.S. dollar, direct transactions in foreign currency and RMB, which not only helps to relieve enterprises of Japan and China exchange rate risks and transaction costs, and further promote the Sino-Japanese trade and investment activities, and also help to improve the status of the yen and the renminbi in international financial markets.


To 12 Noda, Japanese Prime Minister’s visit to China during the Sino-Japanese to strengthen financial cooperation to reach agreement. This 2 Bank of Japan Deputy Governor Kiyohiko Nishimura appeal in a public speech to promote the direct yen and the yuan trade settlement, and cultivate the financial market of the Japanese yen and the yuan to deal directly.

Japanese media said the yen and the renminbi direct trading to start in June | Finance online - Financial Advice|Financial Planning

 

[Chinese Century]

this is great news.

anytime the US dollar is not used, is a blow to the american regime.

of course the slaves of the anglo masters will not like this(you know who im talking about).

 

[Pakistanisage]

The World should Dump the Dollar.

 

[ChineseTiger1986]

this is great news.

anytime the US dollar is not used, is a blow to the american regime.

of course the slaves of the anglo masters will not like this(you know who im talking about).

The US dollar is only needed when we use to trade with USA, but when trading with other countries, we don't need it.

 

[Chinese Century]

The US dollar is only needed when we use to trade with USA, but when trading with other countries, we don't need it.

dollar is needed when buying oil, gas, raw materials, food, etc.

when we buy oil from saudi arabia, we use dollars.

nearly all trade, investment and finance is done in dollars.
this is why there is a massive demand for dollars.

vast majority of foreign exchange transactions are done in dollars.

we need to use bilateral currencies for trade, investment and finance with everyone else.

 

[shuttler]

Apart from improving the international status of both currencies, it also saves a lot of transaction costs and exposure to unnecessary exchange risks.

right now the trade balance is in their favour.

But the banks involved are too few.

ps: there is already a thread created on the same.

here by itaskol:http://www.defence.pk/forums/world-affairs/182741-japanese-yen-chinese-yuan-direct-trading-june.html

 

[ChineseTiger1986]

dollar is needed when buying oil, gas, raw materials, food, etc.

when we buy oil from saudi arabia, we use dollars.

nearly all trade, investment and finance is done in dollars.
this is why there is a massive demand for dollars.

vast majority of foreign exchange transactions are done in dollars.

we need to use bilateral currencies for trade, investment and finance with everyone else.

Now we use RMB to buy the oil from Iran, which is a good start.

 

[shuttler]

deleted. double posting.

 

[skyknight]

This will save 3 billion dollars transaction cost every year, which means the US lost 3 billion dollars every year.

 

[FairAndUnbiased]

This is great news. We may not be popular with the Japanese people, but who cares. Their regime is what we need to deal with and their regime loves us and our money.

 

[Globenim]

wrong topic

 

[kawaraj]

this is indeed a good news for Japan as Japan China trade is massive and it could be huge saving.

 

[Chinese Century]

we need to start using bilateral currencies with any country that wants to use it.

dollar dependency must be reduced significantly.

 

[FaujHistorian]

we need to start using bilateral currencies with any country that wants to use it.

dollar dependency must be reduced significantly.

you can only do that when a country has a strong industrial base and a positive balance sheet. Otherwise currency of a country is not worth the paper/cloth it is printed on.

China will never accept Bangladeshi Takka or Pakistani rupee in large sums. These currencies are 1000 times worse that dollar or Euro.

Hope you understand this.

Peace.