RMB’s dramatic drop: Your guide to what it means
Aug 12, 2015
New RMB basket could be more bust than boom for treasurers
The new renminbi basket has a lower weighting for the US dollar, but the new fix and spot rates against the dollar could mean greater volatility, analysts warn.
With the start of the new year, the renminbi “basket” – the Chinese government’s way of fixing the exchange rate – has a few more eggs. And corporate treasurers, with their holiday time mostly over, must now come to grips with the new basket’s significance.
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