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Review: Reform of RMB's exchange rate over 5 years

07-22-2010 09:05 BJT

Now let's look back at how the RMB's exchange rate has reformed over the past five years.

July 21, 2005

China makes one-off revaluation of the yuan by 2.1% from 8.27 to 8.11 against USD. China abandons a decade-old peg against USD and shifts to a managed floating exchange rate with reference to a basket of currencies.

May 18, 2007

China widens the yuan's daily trading limit against USD from 0.3% to 0.5%.

April 10, 2008

1 USD buys less than 7 yuan for the first time.

June 19, 2010

China announces further RMB exchange rate reform, to improve flexibility.

Editor:Xiong Qu |Source: CNTV.CN

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