Renminbi

From starting the year 2016 at 6.50525/USD and closing the year at 6.94880/USD, 2016 marks as one of the worst years for Renminbi on record, with almost 7% depreciation. Read on how it impacted.

As stated in my previous blog, Chinese forex reserves are sliding and currency depreciating. This is despite of China intervening in Forex market by selling USD to keep currency stable and putting Capital controls to ensure that people and…