August 28, 2014 BY Mike Fox
European financial hubs continue to position for Renminbi future
EU now makes up 10% of global offshore renminbi market
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August 13, 2014 BY Andrew Saks-McLeod
Bank of China's RMB clearing service now includes London trading hours
Yuan clearing will be extended to 20.5 hours, increasing London and New York's ability to conduct more business and increasing access to yuan liquidity.
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August 06, 2014 BY Mike Fox
Standard Chartered: By 2020, 28% of China’s cross-border trade will be settled in renminbi...
Standard Chartered Bank has issued a bold statement saying that by the year 2020, roughly 5 1/2 years from now, 28% of China's cross-border trade will be settled in renminbi. They have issued a glowing graphic to illustrate their prediction (see below): To note, just today China’s yuan strengthened and rose beyond the central bank’s…
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August 01, 2014 BY Mike Fox
New records set for Yuan trading on Moscow Exchange...
Record volumes have been posted in trading of the Chinese Yuan/Russian Ruble (CNY/RUB) on Moscow Exchange's FX Market. The trading volume on July 31st was CNY 665.6 mln (RUB 3.8 bln), the largest daily volume since the launch of yuan trading on Moscow Exchange in late 2010. Trades were made in all CNY/RUB instruments: spot…
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July 28, 2014 BY Mike Fox
China's onshore and offshore RMB market on track to overlap
The offshore RMB market has evolved rapidly since 2010 and there have been periods of significant pricing dislocation between onshore and offshore forex and interest rate markets.
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July 21, 2014 BY Mike Fox
Report: China’s RMB swiftly developing as major world currency
China's renminbi (RMB) is on track to become the third-largest international currency behind the US dollar and the euro within five years as the eastern nation accelerates promotion of its unit, says a study. Last year, RMB cross-border trade settlement amounted to 4.63 trillion yuan ($746 billion), up 57.5% from 2012. It accounted for 2.5%…
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July 08, 2014 BY Mike Fox
Bank of Communications designated as clearing bank for won-yuan trading
The Bank of Korea said the People’s Bank of China has appointed the Bank of Communications Ltd. as a clearing bank for the direct won-yuan trading in Korea, which we reported on last week. Bank of Communications was founded in 1908, and is one of the largest banks in China. Chinese President Xi Jinping and his…
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July 03, 2014 BY Mike Fox
Direct Won-Yuan exchange planned
The move would save transaction fees and hedge against forex volatility.
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June 25, 2014 BY Andrew Saks-McLeod
As interest in the offshore Yuan gains momentum, Dukascopy Bank adds USD/CNH on demo
Dukascopy Bank set to offer USD/CNH trading in a live environment in due course following today's addition of the offshore Yuan in demo mode.
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June 25, 2014 BY Mike Fox
China's FX regulatory agency announces it will increase FX derivative products
The rise of the renminbi's prominence to the global economy, along with China's huge status as creditor nation, has made SAFE an increasingly important player in international forex and financial markets...
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