A record year for foreign renminbi exchange
By Yang Ziman | China Daily | Updated: 2014-02-19 08:52
The Cross-border RMB Index developed by Bank of China Ltd to measure renminbi activity in the global market rose by a record 56 points in the fourth quarter of 2013 year-on-year, BOC reported Tuesday.
The index stood at 228 in December, breaking the threshold of 200 for the first time.
"The growing profile of China's trade in the global market has boosted the growth of renminbi settlement," said BOC President Chen Siqing. "In the fourth quarter last year, renminbi settlement in China's imports and exports increased by 30 percent over the previous quarter, pushing CRI up by 20 points."
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