Regulatory roundup: China signals RMB will get stronger
China signals RMB appreciation on the cards; Alibaba creates China’s first small loan securitisation; India departing from monetary tightening strategy
China signals RMB appreciation on the cards
China’s central bank has appetite to see its currency strengthen against the US dollar. On September 23, the People’s Bank of China fixed the renminbi’s mid-point at a record high of Rmb6.1475. The renminbi forwards market responded in kind, with investors scheduling in appreciation of the Chinese currency. The renminbi has strengthened almost 2% since the beginning of the year.
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