New Zealand and China in early stages of talks to make their currencies directly convertible

• New Zealand is negotiating with China to make their currencies directly convertible
• A spokeswoman for New Zealand Prime Minister John Key said talks are in the “very early stages” and “progressing,”
• China and Australia agreed to allow direct convertibility between the yuan and Australian dollar last month, after about 12 months of negotiations
• The U.S. dollar and Japanese yen are also directly exchangeable with the yuan

New Zealand, China in Talks on Convertibility of Currencies (The Wall Street Journal is often gated, so if you’re unable to access the article try a search of Google news using the headline)