Argentina becomes second Latam RMB hub with clearing bank

Carrie Hong

September 18, 2015 09:15 am

Argentina — Argentine President Cristina Fernandez delivers a speech during the presentation of seven units for the Sarmiento Railway, at Villa Luro station, in Buenos Aires, capital of Argentina, on July 21, 2014. (Xinhua/Gustavo Amarelle/TELAM) XINHUA /LANDOV | TELAM/LANDOV/Press Association Images

The People’s Bank of China (PBoC) said on Friday that it has appointed the local branch of Industrial and Commercial Bank of China as the renminbi clearing bank for Argentina. The country becomes the second official RMB hub in Latin America, following the footsteps of Chile.

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Carrie Hong