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 Africa rand-denominated instruments to 0.39% from 0.6% and Mexican peso-denominated derivatives to 0