Offshore renminbi futures set new record at SGX
Number of USD/CNH contracts traded on May 10 rose sixfold in a week
Offshore renminbi futures contracts broke yet another record on the Singapore Exchange on Friday (May 10), as the notional for the contract reached $6.17 billion on the back of additional tariffs imposed on Chinese exports by the US earlier that day.
A total of 40,735 USD/CNH contracts had been traded at print time – more than six times higher than on Friday, May 3, when 6,246 exchanged hands at SGX.
On May 4, President Donald Trump announced in a tweet that the US might ramp up tariff levels
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