China NDFs weaken sharply on devaluation jitters


The price of Chinese renminbi non-deliverable forwards (NDFs) spiked sharply against the dollar in trading in early December, after a big cut in interest rates by the People's Bank of China (PBOC) in late November.

But a long-term reversal in the two-year uptrend of the renminbi is unlikely, especially following the US Federal Reserve's mid-December rate cut that brought the Fed's discount rate to zero, say analysts.

The PBOC, China's central bank, allows the domestic currency, which is not fully

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here:

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: