Settlement in RMB/CNY. What could it do for your business?

Settlement in RMB/CNY. What could it do for your business?

Since 2009 the PBOC Peoples Bank Of China has been experimenting with direct settlement in RMB. Up until then, wherever you were in the world you would have deal in USD. Dealing in USD meant that countries not using USD would have to take on multiple exchange rate risk. For example an European company would have EUR-USD-RMB (RMB-USD-EUR) risk invol ...