đź“… 21 July 2005
The People’s Bank of China moved from a strict US dollar peg toward a managed floating exchange-rate regime referencing a basket of currencies, and revalued the renminbi. The step responded to...
đź“… 28 October 2004
The central bank raised benchmark lending and deposit rates for the first time in several years to restrain investment and inflation. Monetary tightening showed continued state intervention in...
đź“… 21 July 2005
The People’s Bank moved from a strict dollar peg to a managed float referencing a basket of currencies and revalued the renminbi. The adjustment responded to international pressure and domestic...
đź“… 11 August 2015
The PBOC adjusted how the daily central rate was set, linking it more closely to the previous day’s market close and supply and demand. This expanded market signals in exchange-rate formation but...
đź“… 30 November 2015
The IMF decided that the renminbi would join the Special Drawing Rights basket from October 2016. The move marked international recognition of China’s trade and financial weight, while also reflecting...
