Renminbi
Dealing in RMB
- Standard Bank provides a centralized solution for payment clearing and trade settlements in Renminbi (RMB). Our strategic partnership with the Industrial and Commercial Bank of China puts us in a unique position to deal CNY (RMB) competitively
- Our foreign exchange product covers Spot, Forwards, and Options in RMB
Benefits of Dealing in RMB
- Improve exchange rate risk management
- Pricing transparency and reduced costs - bypass China's FX agents who impose fees: lower transaction costs and FX premiums
- Strengthen buyer/supplier relationships to win market share
- Potentially facilitate greater flexibility in payment terms, potentially resulting in a lower cost of funds
Renminbi
Africa/International Exporter
Minimize FX exposures related to RMB costs incurred in sales process
Access an importer base which have not had ability to trade FX
Africa/International Importer
Chinese businesses increasingly offer discount for transactions settled in RMB
Improve supplier relationship
China Exporter
FX risk for mainland exporters reduced
Simplified documentation and customs requirements
China Importer
Natural hedge if importer is selling in RMB
Grow client base - Chinese importers increasingly prefer to pay in RMB
The symbol ¥ represents the Renminbi, with it's international currency code (ISO code) being CNY.
Please note all Renminbi we trade are Offshore RMB.
Please reach out to your Global Market sales representative for more information.