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?
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.
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).
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.