February 2, 2018 / 9:19 AM / in 10 months

China to launch direct yuan trading with Thai baht

SHANGHAI, Feb 2 (Reuters) - China will establish direct trading between its yuan currency and Thai baht to lower the cost of foreign exchange conversion, the China foreign exchange trading platform operator said on Friday.

Trading between the two currencies will begin on Feb. 5, the China Foreign Exchange Trade System (CFETS) said in a statement on its website. (Reporting by Beijing Monitoring Desk and Winni Zhou; Editing by Sherry Jacob-Phillips)

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