Exchange Rates

REUTERS/Jason Lee --100 Yuan notes are seen in this illustration picture in Beijing November 5, 2013. China's central bank plans to maintain its prudent policy-setting with timely fine-tuning to keep the economy on an even keel while warding off inflationary risks.


New Rules of the Game for China’s Renminbi

May 14, 2014, Arthur R. Kroeber

China recently ended an eight-year period of slow but relentless appreciation against the U.S. dollar, marking a decisive change in its policy for managing its currency, the renminbi. Arthur Kroeber argues that this move is part of a broad and ambitious financial reform strategy, reflecting the agenda laid out last November in the “Decision” published following the Third Plenum of the 18th Party Congress. Furthermore, he writes, it is about improving China’s macroeconomic management, and has little or nothing to do with boosting exports.

  • In the News

    The basic issue with the exchange rate is that the demand for dollars in Venezuela is actually quite high...A lot of importers have to go to the black market to get dollars.

    February 25, 2014, Harold Trinkunas, Toronto Star
  • In the News

    Countries keep [foreign-exchange] reserves because they are worried about many other risks including capital flight or an attack by currency speculators. These proposals are not workable.

    January 26, 2014, Mireya Solís, St. Louis-Post Dispatch
  • Podcast

    @ Brookings Podcast: China’s Currency Policy

    October 14, 2011, Kenneth G. Lieberthal

  • Expert Q & A

    China's Yuan on the Global Stage

    June 22, 2010, Kenneth G. Lieberthal

  • Interview | Caijing Magazine

    Is There a 'Correct' Exchange Rate?

    June 20, 2007