'A big step': China approves cash settlement of FX forwards
New renminbi rules will reduce the cost and risk of hedging, to the benefit of treasurers. China’s regulator is making the changes to slow the currency’s appreciation.
China’s foreign exchange regulator has for the first time officially allowed the forward settlement of foreign exchange without the exchange of principals in “a big step forward” for corporate treasurers – who stand to reduce significantly the risk and the cost of hedging.
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