RMB/Africa currency hedging sees ‘substantial’ growth in past 12 months

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The rapid increase in China's trade with Africa has driven a "significant" growth in the number of renminbi-denominated hedging transactions across the continent, according to South African firm Absa Capital. Figures from the Chinese government show that in 2011, two-way trade volume between China and Africa hit $166.3 billion – a year-on-year increase of 31%, which is nearly 9% above the country's overall growth rate. According to Johannesburg-based Chris Paizis, head of the corporate

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