BOK chooses 11 banks to set won-yuan rates

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BOK chooses 11 banks to set won-yuan rates

Korea’s central bank said Friday that it has selected 11 banks, including five foreign banks, as the lenders responsible for setting prices for direct won-yuan transactions next year. The six Korean banks are Kookmin Bank, Industrial Bank of Korea, Shinhan Bank, Woori Bank, KEB Hana Bank and Korea Development Bank. The five local branches of foreign banks are Bank of Communications, Industrial and Commercial Bank of China, the Bank of China, China Construction Bank Corporation, and Hong Kong and Shanghai Bank.

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