Business

BRED Bank adds Renminbi Currency

RANOBA BAOA SUVA BRED Bank (Fiji) Limited will soon deal with the Chinese Yuan trading system as of April 1. This is the 18th currency the bank trades with. Chief
29 Mar 2014 08:09

RANOBA BAOA

SUVA BRED Bank (Fiji) Limited will soon deal with the Chinese Yuan trading system as of April 1. This is the 18th currency the bank trades with. Chief executive Satish Deb said this is an added value for importers and exporters. “They will have access to more competitive rates while trading directly with their Chinese counterparties without converting the FJD dollars to USD currency. “Also Chinese Traders will be able to send telegraphic transfers from China directly to BRED Fiji thus saving the double conversion cost.” According to Mr Deb, the bank is now the third to offer this direct deal to customers. “We have a BRED Office in Beijing, China to facilitate trade transactions in a much faster and efficient manner which can be used by both importers and exporters from Fiji.”




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