Malaysia has work to do to improve renminbi hub status – assistant governor

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The renminbi is in the process of transforming into an international reserve currency, raising the importance of establishing Malaysia as a hub of renminbi trading, a Bank Negara Malaysia (BNM) assistant governor said today (November 1).

Adnan Zaylani Mohamad Zahid told a conference organised by Bank of China that BNM would support efforts to increase the depth and liquidity of markets.

He cited existing efforts such as a scheme to make it easier to swap Thai baht and ringgits, which could be

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