Foreign banks to start China yuan trade settlement on Friday 5/19

The first batch of foreign commercial banks has registered to directly trade yuan CNY=CFXS used for overseas trade settlement and can begin doing so on Friday, the foreign exchange market operator said.

Approved foreign commercial banks include CTBC Bank, Taipei Fubon Bank, Standard Chartered (STAN.L) and Citibank Hong Kong Ltd.

Foreign central banks have already been approved to trade directly in the country's massive interbank forex market.