PBOC says to extend onshore yuan trading hours in major reform

[SHANGHAI] The People's Bank of China (PBOC) said on Wednesday that it would extend the yuan's trading hours on the Shanghai-based foreign exchange market from Jan 4, 2016.

The central bank said it would also allow more overseas banks to enter the interbank forex market, the China Foreign Exchange Trade System (CFETS), which is a unit of the PBOC.

Trading hours for the yuan in CFETS will last until 11:30 pm local time (1530 GMT) as of Jan 4 rather than end at 4:30 pm, the central bank said in a statement.

REUTERS