Taiwan c.bank: Bank of China hopes to begin RMB clearing business

TAIPEI Tue Dec 11, 2012 8:44pm EST

TAIPEI Dec 12 (Reuters) - Taiwan's central bank chief Perng Fai-nan said on Wednesday that Bank of China hopes its Taipei branch will open yuan clearing business in Taiwan in a month.

He made the comments in a parliamentary session a day after the Chinese bank was appointed as the clearing bank for yuan transactions in Taiwan.. China's yuan currency is also known as the renminbi. (Reporting by Jeanny Kao; Writing by Faith Hung; Editing by Jacqueline Wong)