The new King – also known as the King-Merchant – however, was determined [quote] “to lift up Commerce – the nerve of this State – , from the derelict condition to which past times and circumstances reduced her”. [unquote] He established De Nederlandsche Bank, to realise his plan for a national circulation bank. DNB had a difficult start in life.
It promotes a level playing field, where participants multilaterally bind themselves to abide by their mutually-agreed upon FX market rules, as well as comply with the applicable laws and BSP regulations. Ultimately, this will uphold fairness and integrity in the local FX market. Why Establish a PHP-RMB Market?