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Abstract

This is a Spanish version. On July 21, 2005 China revalued its decade-long quasi-fixed exchange rate of approximately 8.28 yuan per US dollar by 2.1 % to 8.11% ad, at the same time, introduced a more market-based exchange rate system. Many analysts and economists were disappointed with what they considered too small a change and called for more flexibility in the US dollar yuan exchange rate. Provides a timeline of further changes relevant to the Chinese renminbi.
Locations:
Industry:
Other setting(s):
2005

About

Abstract

This is a Spanish version. On July 21, 2005 China revalued its decade-long quasi-fixed exchange rate of approximately 8.28 yuan per US dollar by 2.1 % to 8.11% ad, at the same time, introduced a more market-based exchange rate system. Many analysts and economists were disappointed with what they considered too small a change and called for more flexibility in the US dollar yuan exchange rate. Provides a timeline of further changes relevant to the Chinese renminbi.

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Locations:
Industry:
Other setting(s):
2005

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