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Daily offshore Renminbi trading exceeds US$ 1 billion

Deutsche Bank reports that renminbi trade outside China has exceeded US$ 1 billion per day for the first time ever. This means that the trade volume of the USD/CNY currency pair has doubled within the space of five months. Deutsche Bank’s systems handle between 20% and 30% of the world’s offshore renminbi trade. Since the end of January, Deutsche Bank…

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