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Banking

The emerging renminbi: a look back over the week

It's been an eventful week for the world's emerging international currency, here’s a round-up of some news, analysis and comment that you might not have caught.


HKEx announces plans for RMB futures

Hong Kong Exchanges and Clearing Limited has announced plans to launch offshore renminbi futures, the latest step in the internationalisation of the currency.

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HSBC launching London's first offshore yuan bond

HSBC announced on Wednesday its plans to issue a renminbi-denominated bond in London: the city’s first dim-sum bond...

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London will shake up Hong Kong’s CNH dominance

...and Asiamoney’s Anita Davis thinks that this might just be the start of a trend, with London challenging Hong Kong for dominance of the dim-sum market.

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LME eyes renminbi move for metals

Dim-sum bonds may not be the only renminbi-related shakeup for London, with the London Metal Exchange considering offering traders the chance to settle contracts in the currency.

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China relaxes currency peg

On Saturday the People’s Bank of China expanded the daily trading range that its currency can fluctuate against the US dollar – the first widening since 2007...

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US political rhetoric to stay as China widens yuan band

...but one that isn’t expected to dampen the war-of-words being waged between China and the US on the renminbi.

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Wider trading band: higher CNH funding costs

The widening of the band has also resulted in an increase in implied interest rates in the offshore renminbi markets.

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Bank of Korea to invest in renminbi in 2012

The Bank of Korea is looking at diversifying into the renminbi, moving away from its investments in more traditional currencies.

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