BIS on renminbi management
The extent to which the renminbi has been allowed to appreciate against the dollar after its 2005 unpegging has been examined by a Bank for International Settlements (BIS) paper published in September.
The results of error-correction modelling are consistent with the renminbi having been managed in 2006-2008 against a basket of currencies, the authors state. Although previous researchers have claimed that more sizeable basket weights were placed on the euro and dollar, the BIS research finds
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