Abstract
The PBOC announced a decision to implement a market-based determination mechanism of the official fixing rate of RMB against US dollars in order to enhance the marketing and standard value of RMB on August 11, 2015. In the following three days, the official fixing rate of RMB against US dollar fell 4%. The release of the de-value pressure stimulates panic. In the expectation of de-valuation, the exchange rate volatility has increased and gap between the onshore and offshore exchange rate has further widened. The central bank faces greater difficulty in exchange rate regulation.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Author information
Authors and Affiliations
Consortia
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 2018 The Author(s)
About this chapter
Cite this chapter
International Monetary Institute. (2018). RMB Exchange Rate: Regimes and Policy Issues. In: Monetary Institute, I. (eds) Currency Internationalization and Macro Financial Risk Control. Palgrave Macmillan, Singapore. https://doi.org/10.1007/978-981-13-0698-3_5
Download citation
DOI: https://doi.org/10.1007/978-981-13-0698-3_5
Published:
Publisher Name: Palgrave Macmillan, Singapore
Print ISBN: 978-981-13-0697-6
Online ISBN: 978-981-13-0698-3
eBook Packages: Economics and FinanceEconomics and Finance (R0)