Divergent central financial institution insurance policies see CNH LCs more and more used to cowl USD invoices
Sellers in Asia are seeing growing curiosity in cross-currency letters of credit score (LCs), with customers seeking to make the most of preferable rates of interest to finance dollar-denominated commerce with foreign currency echange.
Letters of credit score are a standard commerce finance product issued by banks and function a purchaser’s assure of fee to the vendor till the ultimate bill is settled. The foreign money of the LCs is historically in step with that of the underlying commerce bill, often denominated in US
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