CNY trading?

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Christian Schuller
2358
Christian Schuller  

Why can't we trade the CNY?

Is there a reason why it is not available to trade in the forex market and with brokers?

whiteking
467
whiteking  

I am also never trade on CNY, but now I see this pair also already become popular

might because China included country with biggest economy growth on the world

Christian Schuller
2358
Christian Schuller  
whiteking:

I am also never trade on CNY, but now I see this pair also already become popular

might because China included country with biggest economy growth on the world

Did you ever see CNY offered by any broker?

Please PM me those.

Sergey Golubev
Moderator
106099
Sergey Golubev  

It is not allowed to trade CNY (renminbi) outside of China. We can trade Chinese Offshore Yuan (CNH) instead.

Why Chinese Offshore Yuan (CNH)?
Because Hong Kong Monetary Authority (HKMA) proposed for yuan to be traded internationally, and People's Bank of China (PBOC) and Hong Kong Monetary Authority (HKMA) announced the Chinese Offshore Yuan market in 2010. Offshore means: outside China.

They created offshore renminbi (CNH) market for foreigners to trade it (regulated by HKMA), because it is restricted for the foreign investors to participate in domestic/onshore CNY market (which is regulated by PBOC).

So, when we want to trade yuan - we are trading CNH which was especially created for us to trade (because we can not trade domestic CNY).

Hong Kong Monetary Authority - Wikipedia
Hong Kong Monetary Authority - Wikipedia
  • en.wikipedia.org
Hong Kong Monetary Authority 香港金融管理局 Headquarters Established Chief Executive Central bank of Currency Bank rate Interest on reserves Website The Hong Kong Monetary Authority (HKMA, Chinese: or 金管局) is Hong Kong's currency board and de facto central bank. It is a government authority founded on 1 April 1993 when the Office of the...
Sergey Golubev
Moderator
106099
Sergey Golubev  

By the way, Renminbi translates to “the people's money” so it is CNY to be inside China and regulated by People's Bank of China (it is not free market), and it is CNH to be outside the China (on the free market) and regulated by Hong Kong Monetary Authority.


Christian Schuller
2358
Christian Schuller  
Sergey Golubev:

By the way, Renminbi translates to “the people's money” so it is CNY to be inside China and regulated by People's Bank of China (it is not free market), and it is CNH to be outside the China (on the free market) and regulated by Hong Kong Monetary Authority.


Thank you!
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