In the space of about five years, the offshore market in Chinese yuan has gone from the poster child of Beijing's financial market liberalisation to a battleground to regain control of the currency, spooking investors and raising questions about the future of the market.
While investor appetite for the offshore yuan, or CNH, as it is popularly known, took a blow after a shock devaluation last August, measures taken by China's central bank in recent weeks to boost the currency's value, including creating a shortage of the unit offshore, has shaken confidence further and increased uncertainty about Beijing's currency policy.
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While investor appetite for the offshore yuan, or CNH, as it is popularly known, took a blow after a shock devaluation last August, measures taken by China's central bank in recent weeks to boost the currency's value, including creating a shortage of the unit offshore, has shaken confidence further and increased uncertainty about Beijing's currency policy.
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