China's Currency Devaluation

Jackson, James K.

Library of Congress. Congressional Research Service.

关键词: International finance;    Foreign exchange rates;    Finance;    Money;    Currency devaluation;   

RP-ID  :  IN10342
RP-ID  :  IN10342_2015Aug17

美国|英语

来源: UNT Digital Library

【 摘 要 】

This report discusses China's recent changes to its method for determining the value of its currency (the renminbi). On Tuesday, August 11, 2015, the People's Bank of China (PBC), China's central bank, surprised global financial markets by lowering the reference rate of the renminbi, effectively depreciating the currency.