RMB recent development

Essay specific features

 

Issue:

Business

 

Written by:

John C

 

Date added:

March 31, 2012

 

Level:

University

 

Grade:

A

 

No of pages / words:

4 / 918

 

Was viewed:

3805 times

 

Rating of current essay:

 
Essay content:

China has a very restricted money market and therefore commercial loans are not readily accessible in short tenor such as overnight or 1 week, the most common interest rate benchmark in China is a 1-year bank lending rate, which currently stands at 5.31%, if we compare the Chinese interest rate with the US rate of the same tenor (1 Year US rate is approximately 2...
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In the non-deliverable market, however, the USD is trading at a discount against Chinese Yuan after January 2003, which obviously is not logical from an interest arbitrage point of view. The reason is that the assumption that Chinese Yuan is freely convertible is void, the USD discount ( for instance 1-year non-deliverable forward discount of USD is 2400 pips or 0...
displayed 300 characters

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