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Offshore yuan overnight implied deposit rate rises to highest since Jan 6
February 21, 2017 / 2:33 AM / 9 months ago

Offshore yuan overnight implied deposit rate rises to highest since Jan 6

HONG KONG, Feb 21 (Reuters) - The overnight implied deposit rate for offshore yuan rose to more than 6 percent on Tuesday, its highest level since Jan. 6.

Offshore yuan liquidity was squeezed at the end of last year as Beijing’s tightening measures to stem capital outflows made offshore yuan rates more vulnerable to cross-border fund flows.

Yuan deposits in Hong Kong, the world’s biggest offshore yuan centre, fell to 546.7 billion yuan ($79.45 billion) in December, its lowest level since April 2011. ($1 = 6.8809 Chinese yuan) (Reporting by Michelle Chen; Editing by)

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