China’s transition to a new currency regime was supposed to represent a move towards a greater role for the market in determining the exchange rate for the yuan. That’s not exactly what happened. As BNP’s Mole Hau hilariously described it last week, “whereas the daily fix was previously used to fix the spot rate, the […]
Posts Tagged ‘Exchange rate’
Why The Great Petrodollar Unwind Could Be $2.5 Trillion Larger Than Anyone Thinks
August 31st, 2015 Awake Goy