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MAS overnight yuan facility to back offshore renminbi market

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Published Fri, Jun 13, 2014 · 10:00 PM

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Singapore

THE Monetary Authority of Singapore (MAS) yesterday said it will provide up to five billion yuan (S$1 billion) in overnight funds to support the growing offshore renminbi market here.

The People's Bank of China (PBOC) Nanjing branch also announced that corporates and individuals in the Suzhou Industrial Park (SIP) can conduct cross-border RMB transactions with Singapore.

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