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November 10, 2015

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Yuan and Swiss franc direct trade

CHINA said yesterday that it will allow direct trading between the yuan and Swiss franc in the interbank foreign exchange market from today.

The move will cut trading costs for China and Switzerland, lift use of the two currencies in bilateral trade and investment, and boost economic and financial cooperation between the two countries, China Foreign Exchange Trade System said in a statement.

The Swiss franc is the 12th foreign currency that can be directly traded with the yuan in the interbank foreign exchange market.


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