Usdcny Ndf

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  1. #1

    Usdcny Ndf

    Hello!

    Just realized that HSBC offers NDFs on the CNY. Any thoughts about this offer?

    http://www.hsbc.com.hk/1/2/hk/banking/rmb

    What other possibilities do we as retail investors in HK have to bet on a CNY appreciation? By going long in the CNY I am mainly trying to hedge against the EURUSD rise since I am earning in HKD and saving in EUR.

    HSBC requires a 25% deposit of notional. Standard savings account interest rates are paid on the deposit. But this also means that I forego any returns that I could achieve with that money...

    A story on the CNY: http://www.reuters.com/article/reute...K9142520070816

    Any thoughts?


  2. #2

    Join Date
    Jul 2007
    Location
    TST and Macau
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    1,496
    Quote Originally Posted by Moving2HK:
    Hello!

    Just realized that HSBC offers NDFs on the CNY. Any thoughts about this offer?

    http://www.hsbc.com.hk/1/2/hk/banking/rmb

    What other possibilities do we as retail investors in HK have to bet on a CNY appreciation? By going long in the CNY I am mainly trying to hedge against the EURUSD rise since I am earning in HKD and saving in EUR.

    HSBC requires a 25% deposit of notional. Standard savings account interest rates are paid on the deposit. But this also means that I forego any returns that I could achieve with that money...

    A story on the CNY: http://www.reuters.com/article/reute...K9142520070816

    Any thoughts?
    Take a look at http://fxtrade.oanda.com. There you can trade 24hrs with minimal spreads and no minimum volumes.

  3. #3

    Fungible

    If the CNY would be fungible, i.e. tradeable without any regulations, then obviously there would be no point to a NDF. But as far as I know you can't really trade the CNY. But maybe someone knows better. Any other opinions?