Asian traders lukewarm to renminbi despite US dollar-depeg

chinese yuan

Importers and exporters that trade with onshore Chinese companies are having second thoughts about using the renminbi to settle their trades in place of the US dollar. This is despite the fact the currency peg to the US dollar looks set to end now China's central bank is opting instead to reference the renminbi to a basket of currencies, a move expected to lead to greater two-way USD/RMB volatility.

At the weekend, the People's Bank of China replaced its de-facto peg to the US dollar by

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: