Offshore yuan is the first emerging market currency to be added to the FX settlement partnership between the two financial institutions. The pair has executed the first US dollar-to-offshore yuan settlement using DLT, according to HSBC.
Widespread capital controls, limited liquidity in government securities, and governance and geopolitical challenges are hurdles to internationalizing the yuan, ratings agency says.
A rare week of good news has convinced some FX strategists to revise their forecasts, but it still makes sense to short the yuan while being prepared for moves in sterling and the US dollar
The dollar-yuan exchange rate - now at its lowest in more than a decade - highlights the need for businesses with exposure to the Chinese currency to either fortify their positions ... or just take it on the chin
Beware political risk on RMB; India promotes fintech innovation; Malaysia releases fresh guidelines for anti-money laundering; Thai central bank throws weight behind ESG