Easing of documentary requirements increases onshore renminbi hedging
Easing of documentary requirements increases onshore renminbi hedging
The more flexible approach to documentary requirements by Chinese regulators onshore has made it easier for corporates to hedge their dollar exposures at a time when the renminbi continues to gain against a range of currencies.
While many Asian currencies have fallen heavily this year, the renminbi has gained 3% and is currently trading at a five-year high of 6.11 versus the US dollar albeit within a narrow permitted range. Since last year, the Chinese yuan has been allowed to rise or fall by 1%
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