Bye-bye dollar peg, hello flexible renminbi

Wozniak, Lara
July 2010
FinanceAsia;Jul2010, p28
The article announces that the People's Bank of China will increase the flexibility of the foreign exchange rate of the renminbi in view of the global economic recovery. It tells that the decision comes after the renminbi remained at around 6.83 per dollar for almost two years. The PBoC has added that changes in its monetary policy is targeted towards gradual economic recovery and upturn of the Chinese economy.


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