Bank of New York, the internationalization of RMB RMB transactions carried out step by step and then

 2011  1 11, the New York branch of Bank of China website to hang out for U.S. customers notice of the RMB trading business, which allows American companies and individuals through the bank account in RMB business.

New York branch of Bank of China Q & A on the RMB business, the Formally accepted the RMB business in fact already begun, and now New York and Los Angeles metropolitan area to carry out this business.

Bank of China said, allowing companies and individuals through the sale of its New York branch of the RMB account. The Bank of New York and Los Angeles to provide RMB business customers savings and current accounts on a regular basis.

Bank of China said that according to the domestic market and offshore renminbi transactions to customers in the U.S. market to set exchange rates.

RMB to the U.S. to provide transaction services

learned that customers in the personal RMB deposit account minimum funding requirements of the U.S. dollar account for the same. Minimum deposit of RMB current accounts for the equivalent of 500 dollars for yuan, RMB fixed deposit minimum deposit $ 1,000 for the equivalent of the Renminbi deposit of 6 months and 1 year.

and enterprise customers the threshold is relatively higher, the Bank of China New York Branch, said the company current account minimum deposit of RMB equivalent of USD 5,000 for the RMB, the company checking account minimum deposit of RMB equivalent of $ 3,000 for the RMB, the company minimum deposit of RMB deposit accounts for the equivalent of $ 1,000 RMB.

Although the RMB transactions in the United States, but the New York branch of Bank of China said that at present the bank does not accept RMB cash the deposit and withdrawal services.

a foreign exchange analyst at broker the mainland to the the market's positive response, indicating strong demand for the yuan, and it is recognized. freely convertible foreign currencies has increased the pace.

does not mean that is now freely convertible

this week, Wenzhou, China allowed individuals to invest overseas in U.S. dollars, the investment amount must be less than 2 million. With the further strengthening of the renminbi means to go in that direction. Qu Hongbin, chief China economist, said, global foreign exchange strategist at HSBC Holdings DavidBloom said yesterday: attention to other currencies, such as the renminbi. speed up, this is due to rising commodity and food prices is to promote the domestic CPI inflation factors.

(each printed by the press also contributed to this article lofty)