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Chinese yuan exchange rate - fixed / floating / semi-floating?
I've been looking long in the Exchange rate system in the People's Republic of China, and that it is unclear if set by the government allowed trade on the FOREX market. If set, then, what currency is linked to, and if not, how Chinese are managing to keep its currency so low? Thanks.
Is fixed to the dollar, but allowed slowly (very slowly) the gain in value, about a quarter% for 6 months or so. I forgot the exact details, but is controlled and not allowed to rise higher. In the long term the Chinese will not be able to resist the increase, and are having internal problems with inflation, caused in part by the low exchange rate. If you can get money into an account paying interest, the yuan is a bet in a way this time.
Rand steady, because it follows the euro The rand was stable in morning trade as a follow up of the euro. "The rand against the dollar must operate in a range from 7.03 to 7.09 and we hope that today the euro, "said a local currency trader.
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