China: Future Direction Of The RMB Exchange Rate – Analysis

By Wei Hongxu

In recent times, the Chinese yuan or renminbi (RMB) exchange rate has undergone significant fluctuations. Since late June, the offshore RMB against the USD dropped below 7.2. Then, in early July, as the USD index declined, the RMB started to rebound and recovered to the 7.15 level on July 14, both onshore and...