Capital markets and accounting advisory services

Managing currency risk - part 2 

Mar 2016

Renminbi wars - the People’s Bank of China awakens


In August 2015, the Renminbi stumbled. Over 3 days the offshore rate for the Chinese currency (CNH) weakened by approximately 5% against the US dollar to reach 6.52 on 12 August 2015. Many pundits were puzzled: what did this mean for the Renminbi? At that time, we issued “Managing currency risk”, providing initial guidance for companies wishing to take a more active role in managing currency exposures.

In this sequel, we explore the implications for corporates of the ongoing uncertainty in the FX market.
Contacts
Ian Farrar
Partner
Hong Kong
Tel: +[852] 2289 2313 Email