Cryptocurrency Q&A
Is Chinese currency pegged?
Is Chinese currency pegged?
Carlo
Fri Nov 15 2024
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7 answers
2039
I'm wondering if the Chinese currency, also known as the yuan or renminbi, is pegged to another currency or to a basket of currencies. I want to understand if its value is fixed or if it floats freely in the market.
7 answers
RubyGlider
Sun Nov 17 2024
However, after 2005, China shifted its approach.
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Caterina
Sun Nov 17 2024
China implemented a pegged exchange rate system for its currency from 1997 to 2001.
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PulseWind
Sun Nov 17 2024
During this period, the Chinese yuan was linked to the U.S. dollar.
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Giuseppe
Sun Nov 17 2024
This policy aimed to stabilize the country's exchange rate.
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CryptoWizardry
Sat Nov 16 2024
The country began managing its currency against a basket of currencies.
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