Actuals
An Annotated History of the USD/CNY Exchange Rate
Subjects: Actuals
From January 1995 to July 2005, the US dollar to RMB exchange rate traded in a narrow range, with an average of 8.28 RMBs to the dollar. Throughout the Asian financial crisis and the ensuing currency devaluations in Southeast Asia in September 1997, the People’s Bank of China (PBOC) officially pegged the RMB at 8.28…