China allows central banks to trade forex derivatives onshore

Foreign central banks will be able to trade a range of derivatives products, including forwards, swaps and options

The People's Bank of China (PBoC) has said foreign central banks will be allowed to trade a range of derivatives products in China's interbank foreign exchange market – a change that could speed up the internationalisation of the renminbi and spur greater foreign interest in the country's vast bond market.

Central banks will be able to trade currency spots and derivatives in China's interbank market without having to go through the PBoC first, the central bank said in a statement published