HSBC launches renminbi NDF's
HSBC launches renminbi non-deliverable forwards.
In response to the growing demand from personal and commercial banking customers for a financial tool to hedge their Renminbi exchange risks, HSBC started offering renminbi non-deliverable forwards RMB NDF late last week.
HSBC reckons the numerous small-to-medium-size enterprises that have an increasing exposure to the renminbi as cross-border business expands will be interested in the product. The bank says that an increasing number of individual customers - many of whom require renminbi holdings for personal purchases with large transaction...
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