First step to free floating yuan

Renminbi revaluation


After months of increasingly rabid speculation on the future of the renminbi, the Chinese government on July 21 shifted away from the currency's peg to the US dollar.

The People's Bank of China (PBOC) said in a written announcement that it would immediately strengthen the yuan by around 2.1% to 8.11 to the greenback, and that in future its value would be determined using a managed float system "with reference" to an unspecified basket of foreign currencies.

The value of the yuan will be set each

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to View our subscription options

If you already have an account, please sign in here.

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here