Offshore firms get access to onshore RMB rates
Access to onshore CNY rates are now available offshore to companies, reducing the need for them to open onshore accounts. But will it be adopted?
“[IT] PROVIDES ANOTHER WAY FOR CORPORATES’ CNY ACCESS” BOCHK trader
As of June 12, companies were given the right to access onshore renminbi exchange rates in the offshore market in Hong Kong for FX forward and swap transactions with tenors up to one year.
Under the scheme, offshore clients needing to hedge their...
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