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The emergence of the RMB : a "New Normal" for China's exchange rate system?
Kunze, Frederik; Basse, Tobias; Wegener, Christoph; … - 2018
We investigate RMB pricing differentials for onshore and offshore trading. Testing for long memory, we find strong persistence in the pricing differential. Hence, the Chinese FX market in its bipolar structure still lacks basic conditions for perfectly integrated markets.
Persistent link: https://www.econbiz.de/10011847444
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The offshore renminbi exchange rate : microstructure and links to the onshore market
Cheung, Yin-Wong; Rime, Dagfinn - 2014
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. Using a specialized microstructure dataset …, we find that CNH is significantly affected by its order flow and limit-order imbalance. The offshore CNH exchange rate …
Persistent link: https://www.econbiz.de/10010367171
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The Emergence of the RMB : A 'New Normal' for China's Exchange Rate System?
Kunze, Frederik - 2018
We investigate RMB pricing differentials for onshore and offshore trading. Testing for long memory, we find strong persistence in the pricing differential. Hence, the Chinese FX market in its bipolarstructure still lacks basic conditions for perfectly integrated markets
Persistent link: https://www.econbiz.de/10012918398
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China's evolving managed float : an exploration of the roles of the fix and broad dollar movements in explaining daily exchange rate changes
Clark, John - 2017
We investigate the drivers of daily changes in the exchange value of the Chinese currency (CNY) since early 2016, when … a new regime was introduced for setting the fix - the midpoint of the CNY's daily trading range against the U.S. dollar … and very responsive to the change in the CNY/USD rate during the previous day’s onshore trading session and to changes in …
Persistent link: https://www.econbiz.de/10011754330
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The offshore renminbi exchange rate : microstructure and links to the onshore market
Cheung, Yin-Wong; Rime, Dagfinn - In: Journal of international money and finance 49 (2014), pp. 170-189
Persistent link: https://www.econbiz.de/10010465177
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Monetary policy transmission with two exchange rates of a single currency : the Chinese experience
He, Qing; Korhonen, Iikka; Qian, Zongxin - In: International review of economics & finance : IREF 75 (2021), pp. 558-576
Persistent link: https://www.econbiz.de/10012692799
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The interactive CNY-CNH relationship : a wavelet analysis
Tian, Shuairu; Gao, Xiang; Cai, Xiaojing - In: Journal of international money and finance 133 (2023), pp. 1-16
Persistent link: https://www.econbiz.de/10014304684
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Donald Trump's tweets, political value judgment, and the Renminbi exchange rate
Zhang, Qisi; Frömmel, Michael; Baidoo, Edwin - In: International review of financial analysis 93 (2024), pp. 1-15
Persistent link: https://www.econbiz.de/10014543553
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Market Integration in the Golden Periphery : The Lisbon/ London Exchange, 1854-1891
Esteves, Rui - 2012
The existence of a self-regulating arbitrage mechanism under the gold standard has been traditionally considered as one of its main advantages, and attracted a corresponding research interest. This research is arguably relevant not only to test for the efficiency of the "gold points", but also...
Persistent link: https://www.econbiz.de/10013108968
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Does Bitcoin Reveal New Information About Exchange Rates and Financial Integration?
Pieters, Gina C. - 2017
I show that the prices of the internationally traded crypto-currency bitcoin can be used to estimate a currency's unofficial exchange rate and capital controls at a daily interval. Two important bitcoin features are documented: (1) Bitcoin-based exchange rates approximate the behavior, but not...
Persistent link: https://www.econbiz.de/10012965854