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| Author: | Jiang, Zhigang |
| Title: | An analysis of the current situation of China's foreign exchange market and its future trend (original in Chinese) |
| Journal: | Finance and Trade Economics (c)
1993 : 11, p.49-53 |
| Index terms: | FOREIGN EXCHANGE MARKET CHINA |
| Language: | chi |
| Abstract: | Since 1993, the swap market for foreign exchange has witnessed big margin fluctuations with the highest increase at 45.9 percent and lowest drop at 21.9 percent. An analysis of this phenomenon helps us to gain some enlightenment: 1. the fluctuations of exchange rates are normal under the market economy; 2. there are many factors influencing short-term fluctuations of exchange rates and long-term factors cannot be used to infer short-term fluctuations of exchange rates; 3. to make relatively stable exchange rates, administrative means cannot be adopted and it is important to improve macro environment. |
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