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RMB Currency Trading In The Bahamas

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. Christie and Chinese President Xi Jinping, clinic the Chinese President  on Tuesday 6th January, announced an agreement in principle that would allow The Bahamas to trade in Chinese denominated currency, the Renminbi (RMB) Chinese yuan.

 

This is good news for The Bahamas and especially the Financial Services Sector that stands to benefit substantially from the introduction of this new financial product and service, making the Bahamas jurisdiction only one of very few countries in the world where RMB trading takes place.  Newly appointed Minister for Financial Services Hope Strachan welcomed the development. She said The Bahamas is “strategically placed in terms of Central and South America, North America and even in terms of Europe. We have the opportunity to increase our trading opportunities.”