China Currency CNY to PKR / China Yaun / Yen to PKR
China Yaun / Yen CNY Currency to PKR
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China Currency CNY to PKR
Bidders get access to the system both from the nearest trading floor of CFETS, and from specialized workstations of bidders, equipped in the premises of customers. Applications up to 50 thousand US dollars have priority in the system, larger applications undergo additional verification procedures before they are executed. The system handles spot trades in the US dollar, Japanese yen and Hong Kong dollar.
CFETS provides clearing for both national and foreign currencies. Regional centers of the system carry out clearing at the local level. The information is then transmitted to the CFETS central terminal.
The People’s Bank of China announces the benchmark rate of the national currency against the US dollar, the Hong Kong dollar and the yen. It is based on the weighted average price of foreign exchange transactions made during the previous trading day in ?FETS. The centralization of currency trading on CFETS made it possible to maintain the yuan exchange rate at a stable level during the second half of the 1990s, even during the financial crisis of 1998, thus creating preconditions for the implementation of a policy of low interest rates in order to stimulate economic growth.
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