Others News
- BOC to offer forex margin trading
Date: 12-Feb-2007 Sources: (Xinhua Online)
BANK of China (BOC) will offer foreign exchange margin trading to clients at its Shanghai branch, the branch said on its Web site.
Domestic banks are offering more elaborate investment products to attract and keep wealthy depositors despite low interest rates and increased competition from foreign banks. Depositors of euros, U.S. dollars, British pounds, Australian dollars, Japanese yen, Swiss francs or Canadian dollars valued at a minimum of US$500 will be able to trade up to 10 times that amount on margin. Accounts may be set up from Monday. Account holders will be allowed to trade 10 pairs of those currencies.
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