Recent yuan depreciation could be a boon for the
Hong Kong Exchanges Group’s (HKEx) push into fixed
income, currencies and commodities, said CEO Charles Li at a
media and analyst event yesterday.
This week the People’s Bank of China
changed the way it calculates the daily fixing rate of the yuan
against the US dollar to better reflect market conditions. The
rate will now be based on the end-day market prices from the
last trading session.
The yuan is China’s onshore currency, while the
renminbi typically refers to the currency offshore. HKEx