Australia, China free up currency trading
SYDNEY (AP) — Australia and China have agreed to make their currencies directly exchangeable in a deal that advances internationalization of the yuan and reduces costs for companies. Australia's Prime Minister Julia Gilliard said Monday the Australian dollar will become only the third major currency to have direct convertibility with the yuan, after the U.S. dollar and Japanese yen. Reported by SeattlePI.com 4 hours ago.
SYDNEY (AP) — Australia and China have agreed to make their currencies directly exchangeable in a deal that advances internationalization of the yuan and reduces costs for companies. Australia's Prime Minister Julia Gilliard said Monday the Australian dollar will become only the third major currency to have direct convertibility with the yuan, after the U.S. dollar and Japanese yen. Reported by SeattlePI.com 4 hours ago.