Sarb’s Marais hails 'smooth rollout' of onshore renminbi programme

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South African Reserve Bank

A senior South African Reserve Bank (Sarb) official said trading onshore Chinese renminbi was "much easier than we thought it would be" at Central Banking's National-Asset Liability Management symposium in Johannesburg yesterday.

Andre Marais, assistant head of reserve management at the Sarb, was speaking just over six months after the central bank launched its investments in onshore Chinese renminbi, a process that led it to develop its relationship with the People's Bank of China (PBoC).

The

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