Currency Co-Movements in Asia-Pacific: The Regional Role of the Renminbi

23 Pages Posted: 16 Jun 2017

Multiple version iconThere are 2 versions of this paper

Date Written: June 13, 2017

Abstract

The internationalization of China’s currency, the renminbi (RMB) bolsters the growing economic and political influence of China in the Asia-Pacific region. This paper assesses the evolution of RMB exchange rate co-movements against the US dollar (USD) within the region. While the RMB’s influence is growing, it is also found to be asymmetric and varying over time depending on the global movement of the USD. The trend is strong when the USD depreciates, but fades when the USD appreciates.

Keywords: exchange rates, Asia-Pacific, renminbi, China

JEL Classification: F31, F33

Suggested Citation

Marconi, Daniela, Currency Co-Movements in Asia-Pacific: The Regional Role of the Renminbi (June 13, 2017). BOFIT Discussion Paper No. 10/2017. Available at SSRN: https://ssrn.com/abstract=2987774

Daniela Marconi (Contact Author)

Bank of Italy ( email )

Via Nazionale 91
Rome, 00184
Italy

Register to save articles to
your library

Register

Paper statistics

Downloads
48
Abstract Views
218
PlumX Metrics