Among the Stablest
Sep 10, 2020
4 minutes
By Wang Jun
Since the novel coronavirus disease outbreak this year, major world economies have been in a lockdown and the financial markets are more volatile than market expectations. Consequently, the renminbi (RMB) exchange rate has also been inevitably affected, with larger fluctuations than before. However, according to Zhou Maohua, an analyst with the financial market department of China Everbright Bank, these fluctuations are still the smallest among all major world currency fluctuations.“ The RMB has become one of the most stable currencies in the world,”
Zhou told Economic Daily.
The stability stems from a reform started five years ago. On
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