Snapshot Rise and Fall of the Renminbi
December 01, 2015
In August, the renminbi was suddenly devalued after market forces were introduced into the way its trading band was calculated, once again casting the spotlight on this most contentious of currencies. Typically, thanks to the interventions of US politicians, the conversation had centered on accusations that the renminbi has been kept artificially low as part of a ploy to boost Chinese exports. However, such a view hasn’t been supported by analysts, and in the Summer 2015 issue of CKGSB Knowledge several went on record as saying the renminbi was in fact overvalued.
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