Cheung, Yin-Wong; Hui, Cho-Hoi; Tsang, Andrew - 2021
On August 11, 2015, China revamped its procedure for setting the official central parity of the renminbi (RMB) against … after this policy change, though the deviation of the RMB offshore rate from the central parity and the US dollar index … explanatory power up to August 2015. Thereafter, the onshore RMB rate and the difference between the one-month offshore and …