RMB should become settlement currency of more imported commodities, Deutsche Bank

Ma Jun, chief economist from Deutsche Bank (DB) (China) released a report today, saying that RMB should be come the settlement currency of more imported commodities. The move fo llows the People’s Bank of China (PBOC), China’s central bank, signing a currency swap agreement with the Reserve Bank of Australia (RBA), t he Australian central bank, on Thursday, the first currency swap agree ment between China and a developed country.