2005-2008 s Peg removed on the currency -one off revaluation of 8. 1 1RMB s Currency movements could only be within a +/-0.3% range daily Band increased to +/-0.5% Pre-GFC RMB had appreciated by around 22%
2005-2008 Peg y removed on the currency – one off revaluation of 8.11RMB Currency movements could only be within a +/- 0.3% range daily Band increased to +/- 0.5% Pre-GFC RMB had appreciated by around 22%
2008-2010 Global financial crisis- China moved back to a peg in order to safeguard domestic industries a controversial measure. which will be discussed in depth later
2008-2010 Global Financial Crisis – China moved back to a peg in order to safeguard domestic industries A controversial measure, which will be discussed in depth later discussed in depth later
2010 onwards o China signals the desire to move back to a more flexible exchange rate regime This year, the RMB has already appreciated 2( %
2010 onwards China signals the desire to move back to a more flexible exchange rate regime This year, the RMB has already appreciated 2%
RMB VS USD Graph Week of Dec 13, 2010:-USDCNYaX 6.6595 7.20 0012002 2003 2004 2006 2007 2009 2010 ource- Yahoo Finance
RMB vs. USD Gra p h Source – Yahoo Finance
Q Current RMB Exchange Rate Chinas Exchange Rate Regime, International 100 Trade since 1980 DE23701388 100 Currency E CNY I CNY= US Dollar 6.6546 0.1503 Euro 8.7385 0.1144 British pound 10.3019 0.0971 Japanese Yen 0.0794 12.5879 Australian dollar 6.6357 0.1507 Canadian Dollar 6.5457 0.1528 Swiss franc 6.9463 0.1440 Norwegian Krone 1.1151 0.8968 Hong Kong Dollar 0.8560 1.1682 As at 1300 Chinese Time ★ 22/12/2010-Bloomberg
Current RMB Exchan ge Rate Chin a ’ s Ex c h a nge Rate Regime, Internatio n al Currenc y = CN Y 1 CNY = C a s c a ge ate eg e, te at o a Trade since 1980 y US Dollar 6.6546 0.1503 Euro 8.7385 0.1144 British Pound 10.3019 0.0971 Japanese Yen 0.0794 12.5879 A t li D ll Aus tralian D oll a r 6 6357 . 0 1507 . Canadian Dollar 6.5457 0.1528 Swiss Franc 6.9463 0.1440 Norwegian Krone 1.1151 0.8968 Hong Kong Dollar 0.8560 1.1682 As at 1300 Chinese Time 22/12/2010 - Bloomberg