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China Changes Its Forex Regime

China Changes Its Forex Regime

4 Years ago | August 16, 2015 00:00:00

 

John M. Bland

A More Flexible Forex Policy 
The Peoples Bank of China roiled the markets in the latest week when it announced a more flexible approach to setting the value of its exchange rate. Rather than managing the value in a set range vs. the USD, under the new system the fluctuation band will now be set around the previous closing value. China has been under a lot of pressure from the IMF to move to a floating exchange rate system before the Yuan could become a part of the SDR. This was an opportune time

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