StanChart launches offshore renminbi index

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Standard Chartered has become the latest bank to launch an index to track the performance of the offshore renminbi market, with the introduction of the Renminbi Globalisation Index (RGI).

RGI is a monthly index that tracks the progress of renminbi-based performance globally, initially covering three markets that dominate the offshore RMB business: Hong Kong, London and Singapore. It measures business growth in four key areas: deposits, dim sum bonds and certificate of deposits, trade settlement

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