Arab Today, arab today china launches first yuan bond in london
Last Updated : GMT 03:23:10
Arab Today, arab today
Arab Today, arab today

China launches first yuan bond in London

Arab Today, arab today

Arab Today, arab today China launches first yuan bond in London

The debt sale in London worth 5.0 billion yuan
London - AFP

The People's Bank of China on Tuesday launched a yuan-denominated bond in London for the first time as it seeks to internationalise its currency.

The debt sale worth 5.0 billion yuan (690 million euros) for one-year bonds was heavily oversubscribed according to a banking source.

The auction for the bonds offering a yield of 3.15 percent coincided with the start of a four-day visit to Britain by Chinese President Xi Jinping.

It is said to be the first time that a yuan-denominated bond auction has taken place outside of China and Hong Kong.

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