Cryptocurrency Q&A
Why is rmb pegged to USD?
Why is rmb pegged to USD?
KimonoElegantGlitter
Thu Nov 14 2024
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6 answers
1595
I'm wondering about the reason why the Chinese currency, Renminbi, is pegged to the US Dollar. I want to understand the economic rationale behind this currency peg.
6 answers
Andrea
Sat Nov 16 2024
This method allows the People's Bank of China to manipulate the yuan's value in a way that benefits the country's exports.
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Elena
Sat Nov 16 2024
By pegging the yuan, the central bank can ensure that the currency remains competitive in the global market.
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ZenBalance
Sat Nov 16 2024
This, in turn, boosts the appeal of Chinese goods and services to foreign buyers.
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CryptoPioneer
Sat Nov 16 2024
Pegging the yuan serves as a strategic policy initiative that offers significant advantages to the Chinese economy.
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CryptoLegend
Sat Nov 16 2024
Increased exports lead to higher economic growth and prosperity for China.
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