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Currencies  |  February 22, 2013 18:39:51

China prepares swap transaction with Great Britain

The Bank of England will soon likely to become the first central bank of the G7, which should enter into a mutual swap transactions with the Chinese central bank. Such agreements China has already entered into a number of (Russia, Brazil, Australia and a few dozen other countries around the world), but not with the G7 countries. Regarding the euro area countries,   for example, it has concluded with Austria . These swaps are to be the basis for removal from the throne dollar world currency No.1.

Thanks to these agreements, the Chinese currency is becoming more and more convertible. London while trying to download the yuan trades executed outside of Asia together. Last year began with yuan currency transactions, now added this. Trading volumes with Juan grow and will presumably grow in the future. This center is the big money.

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