Why does China fiddle around with the yuan fixing again?
The PBoC adjusted the renminbi (or yuan) fixing mechanism for the second time on 20 February. The first time was in August 2015 when it changed the calculation from using a 10-day moving average of the CNY-USD’s closing rates to using the CNY-USD’s closing rate of the previous trading day. There are three parts to […]
How bad are China’s capital outflows?
Capital outflows from China have been rampant; but perhaps they are not as bad as market perceptions have it. There are signs that they may be slowing down. Headline data shows that China’s FX reserves dropped by USD319.8 billion YoY in 2016 on the back of an estimated current account surplus of USD192.8 billion. This […]
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