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2005•Journal of Shijiazhuang Vocational Technology InstituteRequires access

An analysis of the changes and current situation of the exchange rate of RMB

LI Cui-jun

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Abstract

Before 1994,the exchange rate of RMB was fixed by officials.After 1994 RMB exchange rate system was reformed,and exchange rate system of floating has been set up to have management,and the exchange rate of RMB pegs to U.S.dollar in recent years.After China joins WTO,RMB are exchangeable under realizing the current account at the end of 1996.The exchange rate system of RMB will be reformed again on July 21,2005,will form richer and elasticcer RMB exchange rate mechanism,create the asymptotic condition in order that RMB are realized exchangeably for items of the capital.

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What this paper is about

Before 1994,the exchange rate of RMB was fixed by officials.After 1994 RMB exchange rate system was reformed,and exchange rate system of floating has been set up to have management,and the exchange rate of RMB pegs to U.S.dollar in recent years.After China joins WTO,RMB are exchangeable under realizing the current account at the end of 1996.The exchange rate system of RMB will be reformed again on July 21,2005,will form richer and elasticcer RMB exchange rate mechanism,create the asymptotic condition in order that RMB are realized exchangeably for items of the capital.

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Available abstract

Before 1994,the exchange rate of RMB was fixed by officials.After 1994 RMB exchange rate system was reformed,and exchange rate system of floating has been set up to have management,and the exchange rate of RMB pegs to U.S.dollar in recent years.After China joins WTO,RMB are exchangeable under realizing the current account at the end of 1996.The exchange rate system of RMB will be reformed again on July 21,2005,will form richer and elasticcer RMB exchange rate mechanism,create the asymptotic condition in order that RMB are realized exchangeably for items of the capital.

Key concepts: Renminbi, Exchange rate, Liberian dollar, China, Monetary economics, Joins, Economics, Order (exchange)

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