HK banks to launch retail RMB NDFs


Seven banks in Hong Kong will offer renminbi non-deliverable forward contracts to small and medium-sized enterprises and retail customers starting from November. The seven banks – HSBC, Citibank, Bank of China Hong Kong, Standard Chartered, DBS, Royal Bank of Scotland and Fubon Bank – will launch RMB NDF contracts with a minimum denomination of US$10,000 and five tenors, namely one, two, three, six, and 12 months.

The seven banks are all represented on the working group formed in August by the

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