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What is the renminbi?
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18th Nov 2009 by Gary
The renminbi is the currency of China, otherwise called the yuan. The renminbi is usually pegged to the fluctuations of the U.S dollar, and so there isn't much difference when the dollar strengthens or weakens in relationship to China's exports. Other surrounding Asian countries on the other hand suffer because their currencies aren't tied to the dollar, which gives China a trading advantage for its exports. The renminbi is slowly becoming an important world currency.
The renminbi is the currency of China, otherwise called the yuan. The renminbi is usually pegged to the fluctuations of the U.S dollar, and so there isn't much difference when the dollar strengthens or weakens in relationship to China's exports. Other surrounding Asian countries on the other hand suffer because their currencies aren't tied to the dollar, which gives China a trading advantage for its exports. The renminbi is slowly becoming an important world currency.
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17th Nov 2009 In Forex
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Subjects: renminbi,