Offshore renminbi (CNH)
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
Hong Kong fixing sets benchmark for CNH spot
Hong Kong interbank participants have created the first US dollar/offshore renminbi price fixing, giving the city first-mover advantage in renminbi products such as derivatives
Spot USD/CNH fixing in HK poised to become derivatives benchmark
Hong Kong interbank participants have created the first US dollar to offshore renminbi price fixing giving the city first-mover advantage in becoming an offshore centre for renminbi products such as derivatives, say market participants
Time for a single reserve currency is over, warns Gulliver
HSBC chief executive expects renminbi to become a reserve currency within 15 years and shares the bank’s outlook for the Chinese currency