People's Bank of China (PBoC)
HSBC echoes call for greater official focus on offshore RMB
The FX market's fixation on the crises in the West has led participants to miss out on opportunities in offshore renminbi, and governments should give greater support to the currency’s development, HSBC believes
Bank of England must promote RMB trading, warns Chinese official
A swap line between the central banks of the UK and China would be a key step towards the growth of offshore renminbi, a former official of the People's Bank of China said yesterday
Bloomberg launches CNY market data service through Cfets
New service provides live interbank rates on USD/CNY and eight other renminbi pairs, priced from 26 participating banks
Offshore deliverable renminbi derivatives market grows despite fall in trade volumes
Despite a fall in offshore renminbi trade volumes, dealers say corporates are making increasing use of CNH forwards and options markets to hedge price exposure. Joti Mangat investigates
RMB is gaining traction with corporates, Deutsche survey finds
Smaller companies can realise savings of nearly 5% when dealing with Chinese businesses by transacting in renminbi, says Deutsche Bank
Markets recoil as major central banks ease policies
Chinese, European and UK central banks take monetary policy action; moves leave no doubt about gloomy global economic picture as eurozone stock markets fail to rally
China and Australia sign A$30bn currency swap
Australia joins the ranks of central banks with a bilateral currency swap line with China; reflects increased use of renminbi and closer trading ties between the countries
Trading places, December 5, 2011
New appointments at Deutsche Bank, Barclays Capital and CME Group, while UBS chief risk officer steps down
CNH deliverable forwards in Hong Kong could outgrow NDFs
Rising offshore renminbi interbank rates in Hong Kong have made its deliverable forwards market the cheapest way for corporates to hedge, compared with NDFs and onshore forwards, say bankers
FX Invest: US dollar's time as world's reserve currency draws to a close
With the European sovereign debt crisis grabbing headlines, markets might be forgiven for overlooking the nearing end of a second round of quantitative easing in the US. Debate over its success raises deeper questions about the role of the US dollar as…
Lack of liquidity could hinder offshore RMB centres
Former US Treasury official cautious on prospects for offshore renminbi
European corporates wary of RMB settlement
UK government pushing for London to become a centre of offshore renminbi trading, say conference speakers
China tests further easing of renminbi convertibility of capital account
China's State Council is advising the Shenzhen municipal government and local regulators about permitting renimibi conversion outside of currency restrictions
IMF takes final step in changing SDR basket
Fund sets exchange rate for SDR; continues to peg unit of account to yen, dollar, euro and sterling
China: Monetary tightening to increase
Dariusz Kowalczyk, senior economist, Asia ex-Japan, at Crédit Agricole believes the People’s Bank of China is only at the beginning of a scramble to control prices
China inflation suggests more rate hikes likely
Brian Jackson, senior strategist at RBC Capital Markets in Hong Kong, looks at China's policy reaction to worsening inflation
Conference speaker laments renminbi demand outstripping supply
Demand for the renminbi is outstripping supply since the unit began trading globally earlier this month, according to a trader speaking at conference held under Chatham House rules in London on October 21.
Icap attracts 15 counterparties to yuan trading
HONG KONG - Fifteen banks have signed up to trade USD/CNY on electronic broking system EBS Spot within the first week of launch, as the broker prepares to extend yuan trading against the euro, yen, Hong Kong dollar and Swiss franc in coming weeks.
China not likely to relent over yuan
Michael Derks, chief strategist at retail trading company FxPro in London, says US disappointment with the pace of yuan appreciation looks set to continue
Banks scramble to offer renminbi products as Hong Kong gains offshore interbank status
Banks and financial institutions are ramping up efforts to launch new products to tap the growing appeal of investment opportunities in the mainland China market. The trend intensified last week in the renminbi offshore centre of Hong Kong, after China…
Asia lukewarm to renminbi despite dollar-depeg
Importers and exporters that trade with onshore Chinese companies are having second thoughts about using the renminbi to settle their trades in place of the US dollar.
China moves on currency
BEIJING - The Chinese yuan fell significantly against the US dollar in Asian trading today, as markets reacted positively to the People’s Bank of China’s plans to disband the US dollar peg.
The euro's new clothes
Nick Beecroft, senior markets consultant at Saxo Bank in London presents a gloomy prediction of the next phase in the 2007-2010 debt crisis
JP Morgan: Commodity currencies will rally
JP Morgan topped the one-month currency forecast rankings this week with a focus on differing policies.