Personal Business

Renminbi

Standard Bank clients may now open RMB accounts in South Africa for the purpose of settlement of RMB proceeds relating to import and export trades with enterprises in China in designated provinces and cities. The areas include Beijing, Tianjin, Inner Mongolia, Liaoning, Shanghai, Jiangsu, Zhejiang, Fujian, Shandong, Hubei, Guangdong, Guangxi, Hainan, Chongqing, Sichuan, Yunnan, Jilin, Heilongjiang, Tibet and Xinjiang.

Clients involved in cross-border trade with China will be able to denominate their transactions with China in RMB, reducing risk for the importer/exporter and thereby potentially improving the competitiveness and stability of pricing.

For more information contact our Forex relationship centre on 0800 036 739.