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Renminbi peg to dollar right to end says Lagarde at Davos

Renminbi peg to dollar right to end says Lagarde at Davos

Speaking at the recent World Economic Forum meeting at Davos, the IMF’s Christine Lagarde said that it was right that the Renminbi's peg to the dollar has to end. She also said there was a big issue with communication which is leading to something that markets do not like – uncertainty. Better communications would serve China’s transition better.
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China takes steps to curb outflows of the currency

China takes steps to curb outflows of the currency

Offshore Chinese banks are selling a record amount of RMB-denominated certificates of deposit as China takes steps to curb outflows of the currency. Sales jumped to an unprecedented RMB66.1 billion (US$10.2 billion) in December 2015, data compiled by Bloomberg show. That comes after Hong Kong’s RMB deposits, the world’s largest, shrank to the smallest in two years.
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China issues new multi-currency index

China issues new multi-currency index

Policy makers in China are hoping to move investors’ attention away from the yuan’s recent fluctuations against the US dollar after launching a new RMB index
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SC’s RGI suffers largest monthly fall on record

SC’s RGI suffers largest monthly fall on record

Standard Chartered is predicting tough times ahead for the offshore RMB market
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PBOC extends trading hours for interbank FX market

PBOC extends trading hours for interbank FX market

Trading on China’s interbank forex market has been extended by seven hours. As of January 4th, the market closes at 11.30pm Beijing time while the 9.30am opening time remains unchanged
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98% increase in HKEx USD/CNH futures contracts

98% increase in HKEx USD/CNH futures contracts

HKEx’s USD/CNH futures contract recorded a monthly ADV of 2,071 contracts (US$207 Mn notional) in December 2015
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CME extends its CNH offering to its European Exchange

CME extends its CNH offering to its European Exchange

CME Group is now able to offer Offshore Chinese Renminbi (CNH) Futures Contracts with physical delivery in London for the first time
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Latest Features

Is China gearing up for a currency war?

Is China gearing up for a currency war?

The official answer is “no” to whether China is deliberately weakening its currency but the devaluation of the Renminbi (RMB) is happening anyway. By Richard Willsher
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RMB Trade Invoicing

RMB Trade Invoicing

With the value of cross-border deals settled in the redback more than doubling in 2014, it is not surprising that more multinational companies are choosing to invoice in RMB as they look to improve profit margins.
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Chinese business sentiment edges down in January

Chinese business sentiment edges down in January

Following a pickup in conditions towards the end of 2015, business sentiment among China’s largest companies pulled back marginally at the beginning of 2016, according to the latest MNI China Business Sentiment Survey.
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The Renminbi's Rise to Reserve Currency

The Renminbi's Rise to Reserve Currency

In the years prior to 2008, China had maintained a pegged exchange rate and managed its immense trade surplus simply by acquiring more dollar-denominated securities, mostly Treasury bills. This situation, famously coined the “dollar trap” by Paul Krugman, in which China was doomed to unconditional support of the USD given the capital loss that depreciation would induce, ultimately led to the country’s push for renminbi (RMB) internationalization.
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The renminbi - A long term story

The renminbi - A long term story

The world’s oldest country is taking a long-term view of the internationalisation of its currency. Much talk about the renminbi this year has focused on its volatile start, but China is looking to the long term, far beyond these short-term fluctuations. By David Craig, President of the Financial and Risk business unit at Thomson Reuters.
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The Redback comes of age: managing risks and harnessing opportunities in offshore renminbi

The internationalisation of the Chinese renminbi has picked up pace this year, with a growing volume traded in the offshore currency. But its path to becoming a major international currency in its own right still has some way to run, writes Joel Clark
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Regional e-FX perspective on Asia: All eyes on the RMB

Richard Willsher sets out to discover what factors are shaping the foreign exchange market across Asia and what further growth in e-FX we can expect to see taking place throughout the region.
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