Hong Kong creates reference rate for offshore yuan markets

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Hong Kong is the largest yuan offshore business, probably 80% of market share. Singapore is catching-up.

Not quite sure CNH HIBOR will facilitate the creation of more hedging option?

Hong Kong creates reference rate for offshore yuan markets

HONG KONG - The Hong Kong Monetary Authority said on Thursday it would launch an interbank reference rate for the offshore yuan market (CNH) in June, a long-awaited move that will facilitate the creation of more hedging options for those investing or trading in the currency.

The move to create a CNH HIBOR fixing will help address a widespread concern about a lack of hedging options that has restrained enthusiasm for holding the yuan.

http://www.todayonline.com/business/hong...an-markets
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