I'm wondering if the Chinese currency, also known as the yuan or renminbi, is pegged to another currency or to a basket of currencies. I want to understand if its value is fixed or if it floats freely in the market.
7 answers
RubyGlider
Sun Nov 17 2024
However, after 2005, China shifted its approach.
Caterina
Sun Nov 17 2024
China implemented a pegged exchange rate system for its currency from 1997 to 2001.
PulseWind
Sun Nov 17 2024
During this period, the Chinese yuan was linked to the U.S. dollar.
Giuseppe
Sun Nov 17 2024
This policy aimed to stabilize the country's exchange rate.
CryptoWizardry
Sat Nov 16 2024
The country began managing its currency against a basket of currencies.