January 12, 2011
In its latest step to make the renminbi a competing global reserve currency, China's predominantly state-owned Bank of China will now let individuals open renminbi savings accounts... in the United States.
Effective immediately, BOC's US individual customers can now open a renminbi denominated savings account with a $500 equivalent minimum balance. The bank also offers certificates of deposit in 6-month and 1-year terms with a minimum of $1,000 equivalent.
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