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| Author: | Du, Wen |
| Title: | An analysis of RMB "devaluated internally and appreciated externally" / Renminbi (original in Chinese) |
| Journal: | Intertrade (c)
1995 : 5, 29-31 |
| Index terms: | EXCHANGE RATES CURRENCY FOREIGN EXCHANGE MARKET CHINA |
| Language: | chi |
| Abstract: | China's higher inflation rate is mainly pushed forward by cost, especially consumption prices, food price rise in particular, which has not exert much influence to the demand for foreign exchange. In 1994 when the exchange rates were merged, RMB was devaluated artificially for 50%, which left a large room for RMB exchange rate rising again. At the same time, the supply of foreign exchange far exceeded demand in domestic foreign exchange market, which led to the state of RMB devaluated internally and appreciated externally. |
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