Laura Alfaro, Rafael Di Tella, Ingrid Vogel, Renee Kim, William Russell
Harvard Business School (706022-PDF-ENG)
March 03, 2006
On July 21, 2005, China revalued its decade-long quasi-fixed exchange rate from around 8.28 yuan to the US dollar by 2.1% to 8.11% while simultaneously introducing a foreign exchange rate system. more market-oriented change. Many analysts and economists were disappointed by what they thought was too small a change and called for more flexibility in the US dollar-yuan exchange rate. It includes a timeline of other changes relevant to the Chinese renminbi.
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