Offshore RMB market booming in London, report finds

London's Canary Wharf at night

Spot renminbi (RMB) foreign exchange volumes in London almost doubled in the first half of 2013 compared with the same period a year previously, hitting a daily value of $4.8 billion, according to a report from the City of London Corporation.

The study, carried out on behalf of the City by Bourse Consult, shows overall FX activity in renminbi increased by almost a third during the first half of 2013. The full results of the study are expected to be published this month.

"The growth in activity

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