Bangkok--26 Dec--Bangkok Bank
Mr. Suwatchai Songwanich, CEO of Bangkok Bank (China) (right) welcomed Mr. Li Zezhi, Deputy Director of the Office of RMB Cross Border Trade Settlement Leading Group of Kunming, The People’s Bank of China (PBOC) (left), who attended an inauguration ceremony held by the government of the People's Republic of China to launch Thai Baht versus Chinese Yuan interbank FX trading services. Bangkok Bank (China) and 6 Chinese banks have been selected and appointed by PBOC as the first group of market makers for interbank FX trading for the Baht-Yuan pair of currencies. PBOC, China’s central bank, has established a policy direction and measures to enhance the efficiency of interbank FX trading between Thai Baht and Chinese Yuan, removing the need to use a third currency. This strategic initiative acknowledges Thailand’s role, among ASEAN countries, as a major trading partner of China with increasing bilateral trade volumes.