The RMB Exchange Rate Keeps increasing

摘要

In July 2005,the People's Bank of China of- ficially announced that it would adopt a man- ageable floating exchange rate,adjusted ac- cording to a basket of currencies based on market supply and demand.On that day,the exchange rate of the RMB to the U.S.Dollar increased by 21 percent,and since then the RMB exchange rate has gradually turned to a more flexible ex- change rate convention,rather than focusing