China's currency is in the downward tumble. The Renminbi has lost one percent of its value. The Chinese currency has known only one direction: UP. But for about a week, the rate of the Renminbi (Yuan) against the US Dollar keeps falling. In contrast to other emerging markets. However, this is no capital flight, but a targeted intervention by the central bank PBOC.
The Renminbi is not fully convertible, it is under strict capital controls in the People's Republic. The PBOC is helpless. Any exper…
The Renminbi is not fully convertible, it is under strict capital controls in the People's Republic. The PBOC is helpless. Any exper…