OREANDA-NEWS. April 18, 2013. Bank of China, among the first group of market makers for RMB-AUD direct trade on the interbank foreign exchange market, wound up its first RMB-AUD direct trade with ANZ.

As a key maker on the interbank foreign exchange market, BOC enjoys great influence on the market for its complete listed currencies, wide traded varieties and significant percentage of the total trade volume. BOC has accumulated rich product and quotation experience from RMB-AUD settlement and sale business.

It will give full play its business advantage on the financial market, actively perform its obligation as a market maker and provide RMB-AUD two-way quotation to inject liquidity into the market. Also, it will further improve the capacity for quotation, enrich products, promote the vigorous development of RMB-AUD direct trade and offer customers better and more efficient financial services.

Upon authorization by People’s Bank of China, the China Foreign Exchange Trade Center announced that the mode of RMB-AUD trade on the interbank foreign exchange market will be perfected from April 10, 2013. Developing RMB-AUD direct trade is a major move of China and Australia to jointly push forward bilateral economic and trade relations.