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Articles tagged by renminbi

Icap Launches CNH Benchmark EBS BrokerTec and Icap Information Services (IIS) have launched EBS CNH Benchmark, the first fully electronic, trade-backed reference rate for the offshore Chinese renminbi (CNH) market, according to Icap. The benchmark is published daily at 16:30 Beijing/8:30 GMT, and is timed ...
RMB Sixth Most Popular Payments Currency in June, Down YoY The Chinese Renminbi has seen a slight slowdown in terms of global payments by value in June, being surpassed by the Canadian dollar and standing as the sixth most popular currency, according to Swift. Swift data shows that the RMB ...
Chinese RMB Not a Safe Haven Currency, Study Finds The Chinese offshore convertible renminbi cannot currently be considered a safe haven currency, and neither does it appear to be on the path of becoming one, a study published by the Federal Reserve Bank of Dallas suggests. The study analyses ...
IMF Amends SDR Rounding Methodology The executive board of the International Monetary Fund (IMF) has amended its rounding methodology for determining currency amounts in the Special Drawing Right (SDR) basket. The decision, reached July 20, was in order to “make it less complex and also to ...
RMB Moves Back Up to Fifth in Swift Rankings Data from Swift shows that in July RMB bounced back to its position as the fifth most active currency for global by payments by value, with a share of 1.90%, a slight increase from 1.72% in June 2016. Overall, the data shows that ...
What’s Next in the RMB Growth Story? With new data showing that RMB trading grew 81.8% over the past three years, Galen Stops looks at the continued development of the currency and the growth of FX trading in the APAC region. The growth of Chinese renminbi (RMB) trading in the global FX market has been well documented by a variety of sources, whether anecdotally by traders, logically by economists or quantifiably by trading venues and other data providers. It was therefore no surprise when the latest Bank for International Settlements (BIS) triennial survey showed that the average daily turnover of RMB has grown from $120 billion in 2013 to $202 billion as of April 2016, an 81.8% increase.