Erste Asset Management - Blog

Artikel zu Schlagwort: exchange rate
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Gerhard Winzer am 17th August 2015

Devaluation of the Chinese currency

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On 11 August China devalued its currency by 1.9% relative to the US Dollar and announced that in the future it would expose the exchange rate of the Renminbi to the forces of supply and demand on the foreign exchange market. In a press conference the Central Bank did say, however, that it would continue to intervene if the development of the Chinese currency were “volatile”, “irrational”, or “distorted”.

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