Finally it happend! As may of you will have gathered fom our China Business Bulletin on the day (and in many column inches since), the People’s Bank of China ended long-term speculation by announcing a 2.1% increase in the value of the RMB against the US Dollar.
See the attached comments from the Governor of the People’s Bank of China, Zhou Xiao Chuan, in Caijing magazine.
The implications of this move are analysed by Mogan Stanley. Click here to see more details.