China to extend onshore FX trading hours until 1530 GMT: sources

China's foreign exchange market will "soon" extend the trading hours for the yuan to 2330 local time (15:30 GMT) to cover the European trading session, three sources with direct knowledge of the matter told Reuters on Wednesday. 

PHOTO: REUTERS

OCT 14, 20154:22 PM

[BEIJING] China's foreign exchange market will "soon" extend the trading hours for the yuan to 2330 local time (15:30 GMT) to cover the European trading session, three sources with direct knowledge of the matter told Reuters on Wednesday.

The China Foreign Exchange Trade System, managed by the central bank, currently trades until 1630 local time (0830 GMT).

The move is in line with China's efforts to internationalise the yuan, and to help efforts to get the currency included in the International Monetary Fund's Special Drawing Rights basket, the sources said.

The People's Bank of China did not immediately respond to requests seeking comment. The sources declined to be named due to the confidentiality of the matter.

REUTERS