Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/212873 
Year of Publication: 
2017
Series/Report no.: 
BOFIT Discussion Papers No. 10/2017
Publisher: 
Bank of Finland, Institute for Economies in Transition (BOFIT), Helsinki
Abstract: 
The internationalization of China's currency, the renminbi (RMB) bolsters the growing economic and political influence of China in the Asia-Pacific region. This paper assesses the evolution of RMB exchange rate co-movements against the US dollar (USD) within the region. While the RMB's influence is growing, it is also found to be asymmetric and varying over time depending on the global movement of the USD. The trend is strong when the USD depreciates, but fades when the USD appreciates.
JEL: 
F31
F33
Persistent Identifier of the first edition: 
ISBN: 
978-952-323-167-2
Document Type: 
Working Paper

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