Emerging market currencies: an outlook for corporate investors
How far can the internationalisation of Renminbi (RMB) go? In a recent survey Commerzbank asked over 200 companies for their views on the Chinese currency*. The results showed the increasing interest in RMB amongst corporate investors. Today one third of German small and medium-sized enterprises use the Chinese currency in their daily business. This brings with it new challenges: how do you effectively manage RMB exposures and how does this affect your procurement and treasury department?
In this webinar, we discussed the different aspects of emerging market currencies and gave our outlook for 2017. This involved an analysis of the major trends for the USD and emerging market currencies to identify and avoid pitfalls over the course of the year.
*in cooperation with Forsa in April 2016
Peter Kinsella – Head of Emerging Markets Economic and EM FX Research, Commerzbank
Peter Kinsella discussed the different aspects of emerging market currencies and gave an outlook for 2017. This involved an analysis of the major trends for the USD and emerging market currencies.
Michael Rugilo – Asia Expert, Corporate Sales, Commerzbank
Michael Rugilo presented the rise of the Renminbi (RMB) in the European time zone and the benefits (and potential risks) of RMB Internationalisation for corporate investors:
- The rise of the Chinese Renminbi offers multiple benefits for investors. However, RMB implementation is complex as it affects multiple departments from procurement to treasury departments.
- RMB Internationalisation affects multiple topics including Cash Management, Trade Finance, Risk Management, Investments and Financing. As there is no ‘one size fits all’ solution the adoption process requires a partner to provide guidance from start to finish implementing RMB along the value-chain.
Supported by Commerzbank
Commerzbank is a leading international commercial bank with branches and offices in more than 50 countries. With the two business segments Private and Small Business Customers, as well as Corporate Clients the Bank offers a comprehensive portfolio of financial services which is precisely aligned to the clients’ needs. Commerzbank finances more than 30 per cent of Germany’s foreign trade and is the unchallenged leader in financing for SMEs. The Commerzbank subsidiaries Comdirect in Germany and M Bank in Poland are two of the world’s most innovative online banks. With approximately 1,000 branches Commerzbank has one of the densest branch networks among German private banks. In total, Commerzbank boasts more than 16 million private customers, as well as 1 million business and corporate clients. The Bank, which was founded in 1870, is represented at all the world’s major stock exchanges. In 2015, it generated gross revenues of almost 9.8 billion Euro with approximately 51,300 employees.