The renminbi's road to success
The renminbi has been on an upward curve since the People's Bank of China depegged the currency from the US dollar in June 2010. The relaxed controls allow the renminbi to be traded and settled in Hong Kong, which is proving popular with corporates and investors alike. But given the US Senate is looking to push through a currency bill that would punish China for not allowing its currency to appreciate quickly, is the renminbi moving fast enough?
Mitul Kotecha, global head of foreign exchange
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