A synthetic Chinese renminbi: uncovering the anchor currencies
Kunkler, M.
It is advisable to refer to the publisher's version if you intend to cite from this work. See Guidance on citing. To link to this item DOI: 10.46557/001c.39730 Abstract/SummaryWe investigate the de facto exchange rate arrangements of the Chinese renminbi. A recently enhanced methodology is used to estimate a synthetic Chinese renminbi to uncover any anchor currencies. We find two anchor currencies, namely the US dollar and the Singapore dollar. However, the average R-squared is only 43.6%. Thus, the Chinese renminbi is less anchored to the US dollar. This implies that future research can classify the Chinese renminbi as a potential anchor currency.
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