New Products
BEA Introduces New Renminbi Product
The
Bank of East Asia has launched a new deposit products that
opens up more opportunities for clients to enter into
renminbi-linked investments.
The Barrier touch Currency Linked Deposit, the new product, is
denominated in Chinese currency and is available with a minimum
deposit of CNY50,000 (around $7,377).
In a statement, BEA said that the Linked Deposit is designed for
customers who have a positive view of the foreign exchange
performance of CNY against USD after nine months and are prepared
to hold it until maturity. As an added benefit, clients
will not be required to pay any subscription or management
fee when the deposit is placed.
The product will be offered from 28 July to 29 July 2010.
