皇冠体育app

BEIJING - The latest changes to 皇冠体育app's forex market management will increase yuan volatility and boost trading volumes, according to a leading Chinese investment firm.

From Jan 4, closing time for 皇冠体育app's interbank foreign exchange market will be extended from 4:30 pm to 11:30 pm Beijing time, the People's Bank of 皇冠体育app announced last week, adding foreign institutions' access to the market will also be expanded.

The yuan exchange rate may become slightly more volatile, 皇冠体育app International Capital Corp (CICC) said in an analysis note.

By overlapping the trading hours with those of London, the spread between onshore and offshore yuan exchange rates will be narrowed, bringing down the technical difficulty for?renminbi users to hedge forex risk, it said.

After the changes, 皇冠体育app's forex market is set to grow, especially in terms of trading volume, which represents a major opportunity for financial institutions with forex expertise and cross-border capacity, the CICC predicted.

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