Is the new RMB fix mechanism just a technical tweak?
China shortens the timeframe it considers when calculating the renminbi's daily fixing rate, with trading during the day onshore no longer included.
One year after China tweaked its renminbi-US dollar fix mechanism to include moves in the currency’s exchange rates against a basket of major trading currencies, it made a further adjustment on Monday to shorten the timeframe it uses for its calculations.
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