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China’s $1.7 trillion hangover

China’s $1.7 trillion hangover

Up to 40% of China’s $1.7 trillion LGFV loans are at high risk of default. What’s a panicking Beijing to do?

August 2009

FX: Bank of Mexico happy with CLS


This story was first published on theweeklyFiX, for more details please click here

The Mexican peso has completed a year as a CLS-eligible currency. During June 2009, the peak month to date, the average daily volume of instructions settled in Mexican pesos was 2,468 with a US dollar equivalent value of $15 billion, compared with 1,389 worth $17 billion in June 2008 – volume growth of more than 77%.


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