China to introduce some interbank Macanese Pataca FX trading in January

China said spot trading of the yuan against the Macanese Pataca (MOP) will be allowed to fluctuate within a range of 3% above or below the daily yuan midpoint against the MOP.

Shanghai: China will launch interbank foreign exchange trading in currency pairs including the Chinese yuan versus the Macanese Pataca (MOP), the US dollar versus the MOP and the Hong Kong dollar versus the MOP from Jan. 2, China FX trade system said in an online statement on Wednesday.

It added that spot trading of the yuan against the MOP will be allowed to fluctuate within a range of 3 per cent above or below the daily yuan midpoint against the MOP.