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China establishes direct trading pair between yuan and Korean won

[BEIJING] China will establish a direct trading exchange market between the yuan and the Korean won, the People's Bank of China (PBOC) said in a statement on Friday.

Direct forex trading between the two currencies will begin in the first half of 2016, the bank said, citing a meeting between its governor, Zhou Xiaochuan, and South Korean finance minister Yoo Il-ho.

The two officials met on the sidelines of the G20 meeting of central bank governors and finance meetings in Shanghai.

REUTERS

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