2014年6月境外人民币离岸市场综述

2014年6月，境外人民币市场总体保持平稳发展势头。主要特点是：境外人民币资金池继续扩大；Hibor人民币隔夜拆借品种大幅上涨，境内外利差出现倒挂；境外人民币债券发行量较上月有所回落；香港美元兑人民币可交割即期汇价持续走低，境内外美元兑人民币远期汇价震荡下行，其中可交割品种汇价差异略有下降；香港交易所人民币期货交投活跃度略降，CME人民币期货日均交易额有所上升。

Offshore RMB markets developments in June 2014

In June 2014, the offshore RMB market performed stably, and its main characteristics were as follows： the offshore RMB liquidity pool continued to expand; CNH HIBOR overnight went up remarkably, and the spread between onshore and offshore interest rates reversed; the volume of offshore RMB bond issuances dropped slightly as compared with that of May; the deliverable spot USD/CNH exchange rate in Hong Kong continued to fall, the USD/CNY forwards in onshore and offshore markets went down with fluctuations, of which, the exchange rate spread of deliverable varieties declined slightly; the trading of RMB futures in HKEx reduced slightly, while the daily trading of RMB futures in CME increased.