Cheung, Yin-Wong; Rime, Dagfinn - In: Journal of International Money and Finance 49 (2014) PA, pp. 170-189
The offshore renminbi (CNH) exchange rate is the exchange rate of the Chinese currency transacted outside China. We … study the CNH exchange rate dynamics and its links with onshore exchange rates (CNY). Using a specialized microstructure … dataset, we find that CNH is significantly affected by its order flow and limit-order imbalance. The offshore CNH exchange …