2018年7月境外人民币市场综述

Offshore RMB Market Developments in July 2018

2018年6月末，香港、台湾地区和韩国人民币存款余额合计9029．83亿元，较上月下降1．77％。7月份，香港人民币隔夜拆息延续波动，月末报收2.086％，比上月末下降9个基点；香港人民币即期汇率月末报报6．8028，较6月末下跌2．55％。

At end-June 2018, the aggregate CNH deposits in Hong Kong, Taiwan and South Korea stood at 902.983 billion yuan, down 1.77% from the previous month. In July, the CNH Hibor O/N remained fluctuating and closed at 2.086%, down 9 bps from last month; the CNH spot rate closed at 6.80228, down 2.55% from end-June. The monthly average spread between the CNY and CNH spot rates was 157 bps, up 81 bps from the previous month. The spread between the CNY and CNH deliverable forward rates stood at 589 bps, up 96 bps month-on-month; the CNH bond issuance amounted to 11.268 billion yuan, up 27.6% from the end of last month; the trading volume of CNH FX futures in the HKEx, SGX and CME continued to increase rapidly.