Banque de France ‘is active’ in onshore renminbi market
Onshore market provides access to government bonds but takes longer to enter
The Banque de France is investing in Chinese government bonds through the onshore renminbi market, Philippe Mongars, deputy director of market operations at the central bank, revealed today.
Mongars told an audience at the National Asset-Liability Management conference in London that the offshore market "is not a natural habitat" for central banks to invest their reserves in as it is dominated by corporate bonds.
The Banque de France has, instead, negotiated an agreement with the People's Bank
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