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Indian solar power company Azure Power Global has traded down on its debut on the Nasdaq stock exchange after pricing its IPO below the price guidance.

Already a pioneering issuer in the currency, the International Finance Corporation (IFC) believes greater regulatory clarity will provide a fresh boost to its onshore and offshore renminbi funding plans, Monish Mahurkar, director for treasury market operations, told GlobalRMB.

Renminbi globalisation has been successful so far, but now the low-hanging fruit has been picked, Chinese authorities will struggle to push through the next round of reforms, according to Eswar Prasad, professor at Cornell University and senior fellow at the Brookings Institution.

China Resources Pharmaceutical Group will raise as much as HK$15.6bn ($2.0bn) via a Hong Kong IPO after firming up the price range.

Mexican peso futures surged on Monday following the second US presidential debate, rising to their highest level in almost a month as Republican candidate Donald Trump failed to knock a dent in Hillary Clinton’s polls lead.

trueEX, the interest rate swap trading platform, claims to be the first swap execution facility to execute dealer to client Brazilian real interest rate swaps.

Forwards and Futures trading will form a big part of a fund that Franklin Templeton Investment has launched, which focuses on long and short term exposure to global currencies in both developed and developing markets.

Avolon Holdings, indirectly owned by China’s HNA Group, has tapped Morgan Stanley and UBS to provide $8.5bn of debt for the acquisition of the aircraft leasing business of CIT Group.

PepsiCo led a quieter week of supply by opportunistic corporate issuers in the dollar market this week as it looked to issue ahead of an increasingly uncertain backdrop since September’s record monthly issuance volumes.

Kemi Adeosun, the finance minister of Nigeria, has attacked the “hypocrisy” of Western governments in stopping developing countries accessing development bank finance for coal power.

Banks showed a clear preference for dollar-denominated primary issuance in the third quarter, as the euro market grappled with heightened volatility.

The green bond market is well on its way towards $100bn of issuance this year but for the market to maximise its potential, it will need fully developed and widely accepted industry standards, said experts including the World Wildlife Fund. Meanwhile, sovereign issuers are on their way.