The internationalisation of the renminbi is gathering pace, with Hong Kong Exchanges and Clearing to begin trading futures on the currency.
The exchange will launch a US dollar-renminbi contract in the third quarter to give investors a hedge against their exposure to the Chinese currency.
Under HKEx’s plan, the contract will be quoted in renminbi per US dollar, or US dollar and “margined” in renmnibi, with the trading and settlement fees also charged in renminbi.
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