Offshore deliverable renminbi derivatives market grows despite fall in trade volumes

Rich pickings?


Trading volume in the offshore Chinese yuan (CNH) currency derivatives market has fallen by 40% to an average of $1.5 billion a day – after peaking at around $2.5 billion in September 2011 – as liquidity in the underlying spot market suffers a series of contractions. But dealers claim the liquidity squeeze is cyclical and that clients will continue to tap the market as a way to achieve preferable hedge rates and access.

Certainly, a growing range of products is continuing to hit the market to

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