Nordea has added the Chinese offshore Renminbi, CNH, to its suite of tradable currencies. Launched in April, the currency is also available for e-trading on the bank’s electronic trading platform, e-Markets.
Head of Global FX, MM and Commodities Trading for Nordea Markets, Kenneth Steengaard, said the quick adoption of CNH after its release as a convertible currency at the end of 2010 was a ‘natural step’ in the bank’s strategy for emerging markets authority in the region.
“Adding CNH to our broad range of emerging currencies gives customers a cutting-edge opportunity for managing Chinese FX exposure. Nordea offers great strength for customers interested in emerging markets and our ambition is to be recognised for our solid commitment in this area,” says Steengaard.