Archive for July, 2005

RMB Revaluation Announced

Thursday, July 21st, 2005

The People’s Bank of China has announced reform of the Renminbi (RMB) exchange rate regime. The new system will be a “managed floating exchange rate regime based on market supply and demand with reference to a basket of currencies. RMB will no longer be pegged to the US dollar and the RMB exchange rate regime […]