Analysts said the phase one trade deal signed with the United States in January also included an exchange rate provision that prohibits competitive currency depreciation. Photo: AP Analysts said the phase one trade deal signed with the United States in January also included an exchange rate provision that prohibits competitive currency depreciation. Photo: AP
Analysts said the phase one trade deal signed with the United States in January also included an exchange rate provision that prohibits competitive currency depreciation. Photo: AP

Coronavirus: is China re-pegging the yuan to the US dollar to avert a financial crisis?

  • In the aftermath of the global financial crisis, the People’s Bank of China (PBOC) effectively held the exchange rate at 6.83 from late 2008 until June 2010
  • Amid the current economic and financial environment, a PBOC official said late last month that the yuan would fluctuate around the level of 7 yuan ‘in the future’

Topic |   Coronavirus pandemic
Analysts said the phase one trade deal signed with the United States in January also included an exchange rate provision that prohibits competitive currency depreciation. Photo: AP Analysts said the phase one trade deal signed with the United States in January also included an exchange rate provision that prohibits competitive currency depreciation. Photo: AP
Analysts said the phase one trade deal signed with the United States in January also included an exchange rate provision that prohibits competitive currency depreciation. Photo: AP
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