China’s currency fix brings more questions than answers
The People’s Bank of China wavered on the renminbi’s fixed rate in the first week of 2016, leaving many puzzled as to its stance on the currency and questioning the transparency of its policies.
On January 7, the People’s Bank of China (PBoC) set a central parity rate for the renminbi of Rmb6.5646 to the US dollar, the lowest level since March 18, 2011.
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