BIS
Article by Ms Hu Xiaolian, Deputy Governor of the People’s Bank of China, Beijing,
22 July 2010.
"The content of the managed floating exchange rate regime includes three aspects. First, the
floating of exchange rate is based on market supply and demand so that the exchange rate
plays a role as a price signal. Second, the range of floating adjustment is based on trade and
current account balances to reflect the “managed floating” nature.
Third, the exchange rate is
determined with reference to a basket of currencies, rather than the bilateral exchange rate
between RMB and any single currency."
http://bit.ly/dBlA9P
