Liquidity issues may prevent RMB's entry to SDR

Say conference panellists and Allen & Overy report

renminbi-sky-fly-bird-china

Inadequate liquidity in Chinese renminbi derivatives is putting participants off hedging the currency and this is one of the biggest obstacles to the country joining the International Monetary Fund's special drawing rights basket (SDR), according to panellists at a Securities Industry and Financial Markets Association (Sifma) conference in New York.

Concerns over liquidity were highlighted in a report from law firm Allen & Overy. Two-thirds of the 150 respondents – all senior executives at

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