Editorial: It’s the Right Time for Further Tweaks to the Yuan Fix
In the two years since Chinese authorities made a major change in how the reference rate of the yuan is calculated against the U.S. dollar, the currency has gone through some bumpy times. But the yuan’s exchange rate has been stabilizing, and discussion about further changes has resurfaced.
The range of the yuan’s daily fluctuation against the U.S. dollar is no longer the key point. How to set the midpoint rate, around which the yuan is allowed to trade, is the difficult part. The flexibility of the yuan’s exchange rate depends on the progress of supportive reforms.
- 1China’s Moon Explorer Posts Photo of Sprouting Cotton Plant
- 2Huawei Canada Exec Quits as Scandal Continues to Embroil Company
- 3Luckin Coffee Reportedly Seeks IPO in Hong Kong
- 4Bank of China to Test Waters for Perpetual Bonds
- 5Apple Chief Counsel Accuses Qualcomm of Holding Smartphone-Makers for ‘Ransom’
- 1Power To The People: Pintec Serves A Booming Consumer Class
- 2Largest hotel group in Europe accepts UnionPay
- 3UnionPay mobile QuickPass debuts in Hong Kong
- 4UnionPay International launches premium catering privilege U Dining Collection
- 5UnionPay International’s U Plan has covered over 1600 stores overseas