Emerging Markets Rates and Currencies Handbook

For FCY / CNH FX Spot FX Forwards NDFs FX Options Interest Rate Swap Interest Rate Options XCCY swaps Market Overview Onshore Market ✗ ✗ ✗ ✗ ✗ ✗ ✗ Offshore Market        Onshore Volume (MM USD Daily) Offshore Volume (MM USD Daily) Onshore Max Tenor (Or Typical Tenor For Spot) Offshore Max Tenor (Or Typical Tenor For Spot) Onshore Typical Deal Size (MM USD) Offshore Typical Deal Size (MM USD) Onshore CitiFX Pulse Capabilities n/a 18000-20000 N/A T+2 n/a 40-60 ✗ n/a 13000-15000 N/A 5 Years n/a 50-100 ✗ n/a Included in Forwards N/A Same as Forwards n/a Same as Forwards ✗ n/a 1500-2500 N/A 5 Years n/a 50 ✗ n/a 3500 N/A 5 Years n/a 25 ✗ n/a 5-10 N/A 5 Years n/a 5 ✗ n/a 100-200 N/A 5 - 10 Years (most liquid within 5y) n/a 3-5 ✗ Offshore CitiFX Pulse Capabilities   ✗ ✗ ✗ ✗ ✗ CNH/Offshore RMB can be dealt offshore and in the Shanghai Free Trade Zone Unit (FTU). For CNH dealing under Shanghai Free Trade Zone Unit (FTU), please contact Citi China. For other offshore CNH dealing, please contact respective offshore Citi branches. Source: Citi indicative information