NZ SIGNS HISTORIC CURRENCY DEAL WITH CHINA

New Zealand’s economic ties with China have been strengthened with a deal to allow direct trading of the New Zealand dollar against the Chinese currency the renminbi or yuan.

The deal, struck relatively swiftly negotiations began in April last year, will reduce costs for exporters and importers by removing the necessity for transactions to be settled in two foreign exchange trades via a third currency – usually the US dollar.

Read the full story on NZ Herald here