Hong Kong Exchange announces trading of deliverable US dollar/renminbi futures

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The Hong Kong Exchange (HKEx) is to launch trading of its first currency futures based on the US dollar/CNH pair in September this year, as the world's first listed deliverable renminbi futures contract, in a move that furthers the internationalisation of the renminbi.

The contract size will be US$100,000, quoted in American terms as renminbi per US dollar. The contracts are settled and margined in renminbi, and will require delivery of US dollar by the seller and payment of the final settlement

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