FXCM Inc, an online provider of forex trading and related services, has announced that it has begun offering offshore RMB trading to all markets globally with the exception of Japan.
CNH is the offshore version of the renminbi (RMB), introduced by the Hong Kong Monetary Authority and People's Bank of China to allow investors outside mainland China to gain exposure to the Chinese currency. FXCM's clients can now take advantage of USD/CNH trading on all platforms, alongside other major FX pairs in the US, European, Asian, and Australian markets.
"We are excited to offer the USD/CNH across different platforms as this will allow clients to take advantage of growing international markets," said Drew Niv, CEO of FXCM. "FXCM is continuously working to diversify its product offering to the global trading community."
China is the world's second-largest economy. Its gross domestic product grew by 7.7 percent last year and is predicted by the World Bank to grow by 7.6 percent in 2014.
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