BIS paper studies evolving renminbi exchange rates
It is “premature” to declare a stable zone for the renminbi, the paper concludes
Emerging market currencies tend to move more closely with the renminbi when market forces play a more decisive role in the Chinese currency’s price-fixing mechanism, a Bank for International Settlements working paper finds.
BIS senior adviser Robert McCauley and senior economist Chang Shu say the renminbi fixing mechanism has gone through three stages: “transition”; “basket management”; and “countercyclical management”.
From February 2016 to May 2017, or the “basket management period”, the
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com
More on Foreign Exchange
Foreign policy impact on future FX reserves composition
Restrictive covenants in global financial safety net system drive fragmentation, while CBDCs and digital petroyuan may alter FX reserve investments
Geopolitical risks to reserve adequacy: 2024 survey
Geopolitics are heightened going into 2025. Twenty-four reserve managers reveal their strategies.
EMEs’ rising reserves increase global volatility – NBER study
Emerging economies’ accumulation of foreign assets has depressed global interest rate
Ethiopia adopts market-based FX regime
Move follows monetary policy reform aimed at attracting IMF funding
Argentina sells dollars in parallel FX market
Domestic currency’s CCL value jumps as central bank tightens monetary supply
Laotian central bank raises rates amid high inflation
Inflation in Laos has been above 20% due to weak local currency
Japan ready to intervene in FX markets, finance ministry says
Top currency official issues warning as yen hits 34-year low against dollar
Argentina extends swap agreement with China
Central Bank of Argentina says it will repay activated $5 billion swap by mid-2026