ADS Securities, the Middle East’s leading forex brokerage and one of the fastest growing FX trading companies globally, has today announced it has started trading the USDCHN currency pair (US Dollar/ Chinese Renminbi). Offering access to the Renminbi (RMB) has been driven by a growing interest in the Chinese currency.
Philippe Ghanem, Managing Director and Vice-Chairman of ADS Securities, commented: “The CNH is the offshore RMB and we are very pleased that our customers can now trade this with a GCC based brokerage. We always want to offer new trading and investment opportunities for our clients and have responded to the strong demand from investors to have access to the Chinese currency.”
International trading of the RMB has increased significantly over the last few years. The Bank of International Settlement Triennial Central Bank Survey (September 2013) showed that the RMB is now the 9th most traded currency, and accounts for 2.2% of global trading – up from 17th place with 0.9 per cent of volumes three years ago.