Uncertainty in the offshore Renminbi (RMB) market continued as a theme in 2016 following the August 2015 devaluation in the reference rate. The move had repercussions on currency expectations, capital flows and domestic monetary policy. In this context, Asset Benchmark Research conducted a survey on behalf of Standard Chartered Bank to provide constructive feedback on offshore RMB usage patterns, operational challenges and the outlook for the currency.
The project took place over a 3-week period in August and surveyed 161 treasurers and senior treasury/finance executives from Asia, Europe and the US concerning their usage of and attitude towards the RMB.