Offshore firms will soon get access to onshore RMB rates
Sources confirm access to onshore CNY rates will be available offshore to companies within two weeks, reducing the need for them to open onshore accounts.
Starting from June 12, companies will be able to access onshore renminbi prices (i.e. CNY exchange rates) in the offshore market in Hong Kong for FX forward and swap transactions with tenors up to one year, several sources told CT.
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