UOB appointed as cross currency dealer for yuan and rupiah in China and Indonesia

UOB appointed as cross currency dealer for yuan and rupiah in China and Indonesia
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SINGAPORE (Sept 6): UOB China and UOB Indonesia, wholly-owned subsidiaries of United Overseas Bank (UOB), are now Appointed Cross-Currency Dealers (ACCDs) for Chinese Yuan and Indonesia Rupiah (CNY/IDR). 

This makes UOB the first Singapore bank to hold the CNY/IDR ACCD status in both markets. UOB China is also the only Singapore-headquartered bank approved by the People’s Bank of China (PBC) to be a CNY/IDR direct market maker. 

ACCDs aim to promote the settlement of international good and services trade and direct investments in...(click on link for full story on theedgesingapore.com)