NDFs Price In Yuan Depreciation

Twelve-month USD/CNY non-deliverable forwards traders are pricing depreciation of the yuan.

  • 25 May 2009

--Daniel Flatt

Twelve-month USD/CNY non-deliverable forwards traders are pricing depreciation of the yuan. The NDF is trading at CNY6.7, its lowest since August last year. The spot today Friday was fixed at CNY6.823, the lowest for a week, fx strategists noted.

The move is seen as a reaction to recent ...

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