China allows RBI, 5 others into interbank forex market

Beijing : China has allowed a second batch of foreign institutions to enter China's interbank foreign exchange market, the country's central bank said on Tuesday.

Six central banks and international financial institutions, including Reserve Bank of India (RBI), Monetary Authority of Singapore and Bank of International Settlements, are now allowed to trade spot products, forwards, swaps, currency swaps and options in China's domestic foreign exchange market, it said. Last November, the first seven foreign institutions had been registered to enter the interbank foreign exchange market.