Swiss inch towards renminbi hub dream – ValueWalk Premium

Swiss inch towards renminbi hub dream

Swiss inch towards renminbi hub dream
by Matt Allen, swissinfo.ch

January 13, 2014 - 11:00

News that Switzerland’s central bank recently opened talks with its Chinese counterpart to swap currencies has raised Swiss hopes of attaining a renminbi hub status. But Switzerland is playing catch-up with rivals that share the same ambition.
As global renminbi (RMB) transactions gather pace, a tantalising vision has emerged of a new international reserve currency competing with the dollar, euro and British pound. Financial centres are jostling to enjoy the prestige and profits of becoming RMB conduits.

In December 2012, the Swiss . . .

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