Lack of renminbi derivatives may foil currency's SDR entry

renminbi-sky-fly-bird-china

Inadequate liquidity in Chinese renminbi derivatives is putting participants off hedging the currency and this is one of the biggest obstacles to the country joining the International Monetary Fund's special drawing rights (SDR) basket, according to panellists at a Securities Industry and Financial Markets Association (Sifma) conference in New York.

Concerns over liquidity were also highlighted in a survey by law firm Allen & Overy. Two-thirds of the 150 respondents – all senior executives at no

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