Stephen van Coller
Absa Capital has recently introduced trade in Chinese Renminbi (CNH) to PACE FX, its electronic FX trading platform. The introduction of the market for offshore CNH, deliverable in Hong Kong, has been an important development for Chinese currency market participants. CNH market volumes have risen steadily since its inception in July 2010 and the CNH provides more options for hedging and risk management.
“China is an increasingly important trading partner for South Africa and this development offers local clients full risk management capabilities for their Chinese exposure,” says Stephen van Coller, Chief Executive of Absa Capital. Other emerging market currencies that are now offered are the Thai Baht (THB) and Saudi Arabian Riyal (SAR).