Union Bank has launched facilities to help U.S. firms manage foreign currency risk for the Chinese renminbi (RMB). The wholly-owned subsidiary of the Bank of Tokyo-Mitsubishi UFJ, offers hedging solutions, including forwards and options, which allow customers to manage anticipated foreign currency exposures. The bank also enables customers to make or receive international payments in renminbi.
Union Bank has started RMB trading via the Chinese offshore market. U.S. firms often face foreign currency risk linked to their trade-related transactions with businesses in mainland China.
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