Renminbi contracts grow share of interest rate derivatives turnover
Instruments denominated in non-G10 currencies accounted for 3.8% of average daily turnover in April 2019
Interest rate derivatives denominated in renminbi expanded as a share of global turnover between 2016 and 2019, but still remain just a fraction of total volumes.
In April 2019, average daily turnover of renminbi-denominated contracts hit $33 billion, 0.51% of the total, up from 0.37% three years prior. In contrast, Korean won-denominated contracts saw their share drop to 0.41% from 0.47%, South
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