Hong Kong Renminbi Deposits Fall in September

Data is a bit behind from the Hong Kong Monetary authority, but it shows renminbi deposits falling. Perhaps the bigger story is the decline in the number of authorized institutions engaged in RMB business, from 149 in late 2014, down to 145 as of September 2015.

I noticed a familiar pattern at work and sure enough, deposits are tracking CNYUSD.

Source: Monthly Statistical Bulletin
(December 2015 - Issue No. 256)

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