July 05, 2012

China has allowed Japanese yen to be converted directly to the yuan since June 2012

"China surprised many by suddenly allowing the Japanese yen to be converted directly to the yuan last month (June)...It is expected to grow overtime as companies try to lower transaction costs"

Source: Aussie dollar next in line for yuan deal
By Angus Grigg & Lisa Murray
Australian Financial review, Thursday, July 5th, 2012, page 1

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