China has added Australian and Canadian dollars to its limited forex trading, Reuters reports. The yuan opened at 6.1266 against the Canadian dollar and at 6.2769 against the Australian dollar. The People’s Bank of China (PBOC) set the yuan/Canadian dollar’s midpoint at 6.1048 and the yuan/Australian dollar’s midpoint at 6.2491.
The yuan may rise or fall 3 percent, compared to the two currencies from the PBOC’s mid-points each day. A total of nine currencies are traded in the domestic market against the yuan. The currency pairs include the U.S. dollar, euro, U.K. pound and the Hong Kong dollar.
Click here for the story from Reuters.
Click here for additional coverage from Today Online.