China plans RMB option market launch - report

The Chinese government plans to launch an option market for its currency, the Renminbi (RMB), to help its banks avoid risks incurred by the partial flotation of exchange rates according to the Beijing News.

The Beijing News quoted an insider who refused to be named as saying the State Administration of Foreign Exchange (SAFE) was preparing for the launch following surges in the yuan's value.

The insider said it was difficult to predict the specific date of the launch as the plan had not been

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