China's contribution to the global economy
China Daily | Updated: 2017-01-16 11:17
Exchange Rate Stabilizer
Ever since the 2005 exchange rate reform, the nominal rate of exchange of the RMB has appreciated by 20 percent against the US dollar and its real effective exchange rate appreciated by 56 percent from July, 2005 to the end of 2015. Meanwhile, the fluctuation band of the RMB's exchange rate has been gradually widening.
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