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China’s currency turbulence

Posted on 05 November 2012

On 26 October, the Chinese currency’s (the renminbi) spot exchange rate against the US dollar reached the upper limit of its floating range for the second consecutive trading day. The rise began when the trading band for the renminbi’s dollar exchange rate was widened to ±1%, and has now reached an all-time high since 1994.
With little sign of improved economic fundamentals, rapid currency appreciation is a potentially dangerous development for China—in part owing to the risk of an abrupt and painful reversal………………………………………..Full Article: Source


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