Cryptocurrency Q&A
Is RMB pegged to USD?
Is RMB pegged to USD?
Maria
Fri Oct 25 2024
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5 answers
1110
I'm wondering if the Chinese currency, the RMB, is pegged to the US dollar. I want to understand the relationship between these two currencies and whether there's a fixed exchange rate.
5 answers
SophieJones
Sun Oct 27 2024
Since then, the Renminbi has been allowed to float within a narrow range compared to a basket of currencies chosen by the Chinese government.
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Isabella
Sun Oct 27 2024
This change is viewed as a step towards a more fully free-market floating of the Renminbi.
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Andrea
Sun Oct 27 2024
The Chinese government made a significant shift in its economic policy in 2005.
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benjamin_cole_nurse
Sun Oct 27 2024
Prior to this, the Renminbi was pegged to the US dollar.
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Elena
Sun Oct 27 2024
However, in 2005, this policy was overturned.
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