Swap Connect set to launch within weeks
After final rules were published last week, sources suggest CNY swap scheme could go live by May 15
Following last week’s release of the final rules for China’s new Swap Connect scheme, sources close to the discussions say the project will probably go live in the next few weeks, with May 15 mentioned as the most likely launch date.
The People’s Bank of China finalised the rules for Swap Connect on April 28. The scheme will allow foreign investors to tap the onshore renminbi (CNY) interest rate
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