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

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: