Standard Chartered launches renminbi index

The index will monitor the process of the Chinese currency's globalisation.

Standard Chartered launches renminbi index
The renminbi is set to become a global reserve currency, says StanChart

Standard Chartered has launched an index to capture the renminbi’s growing internationalisation.

The British bank says that the renminbi is heading towards global reserve currency status, making it worthwhile to monitor the broader use of the currency hence the introduction of its renminbi globalisation index.

The index tracks four products in Hong Kong, London and Singapore offshore renminbi deposits, trade settlement and other international payments, dim sum bonds and certificates of deposit,...

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