Tag: remninbi

The offshore renminbi interbank offered fixing rate is now in swing. Limited liquidity will impact the ability to produce hedging products on the back of it, at least for the short-term, experts note.

Two landmark OTC trades based on the offshore renminbi interbank lending benchmark were readied last week. However, lack of overall liquidity meant the one-year deals were based on three-month lending data.

The Hong Kong Monetary Authority (HKMA) and the Treasury Markets Association (TMA) both announced plans that could further open up the marketplace for offshore renminbi in Hong Kong.

Offshore renminbi deposits in Hong Kong fell in September as did the the city's market share in trade settlement.

A severe liquidity squeeze in the offshore renminbi deliverable forward market was spotted on the very front-end of the curve, on July 3. The overnight implied rate shot up to 15% at one point. Should corporations be worried? CT asks the experts.