China has used a fixed yuan exchange rate and a crawling peg exchange rate. In both cases, China pegs its currency to the
A)U.S. dollar.
B)Japanese yen.
C)euro.
D)Mexican peso.
E)Russian ruble.

Question

Quizplus · Accepted Answer

China has consistently pegged its currency, the yuan or renminbi (RMB), to the U.S. dollar. However, starting in 2005, China shifted to a crawling peg exchange rate system, where the yuan gradually appreciates in value against the dollar while still maintaining a fixed exchange rate.

China Has Used a Fixed Yuan Exchange Rate and a Crawling