Proceedings of the 8th International Conference on Financial Innovation and Economic Development (ICFIED 2023)

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Empirical Analysis of Factors Affecting RMB Exchange Rate and Policy Implications Under Epidemic Conditions

Authors
Yuhang Zhang1, *
1International Business, Jinan University, Guangzhou, 510632, Guangdong, China
*Corresponding author. Email: zyh2020104456@163.com
Corresponding Author
Yuhang Zhang
Available Online 15 May 2023.
DOI
10.2991/978-94-6463-142-5_41How to use a DOI?
Keywords
RMB exchange rate; Causes of exchange rate fluctuations; Countermeasures and Suggestions
Abstract

This paper first summarizes the current situation of RMB exchange rate fluctuations from 2020 to 2022. On this basis, the causes of RMB exchange rate fluctuations are analyzed from five aspects: the epidemic, the international political environment, the Russia-Ukraine conflict, the interest rate hike of the Federal Reserve and the supply and demand of the foreign exchange market. Find out the factors and trends affecting the fluctuation of RMB exchange rate. Finally, aiming at China’s response to the fluctuation of RMB exchange rate, the paper puts forward to further promote the two-way symmetric opening of the capital account and improve the formation mechanism of the RMB exchange rate. To accelerate the upgrading of industrial structure and improve the competitiveness of the countermeasures and suggestions to promote the further development of RMB internationalization.

Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 8th International Conference on Financial Innovation and Economic Development (ICFIED 2023)
Series
Advances in Economics, Business and Management Research
Publication Date
15 May 2023
ISBN
978-94-6463-142-5
ISSN
2352-5428
DOI
10.2991/978-94-6463-142-5_41How to use a DOI?
Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Yuhang Zhang
PY  - 2023
DA  - 2023/05/15
TI  - Empirical Analysis of Factors Affecting RMB Exchange Rate and Policy Implications Under Epidemic Conditions
BT  - Proceedings of the 8th International Conference on Financial Innovation and Economic Development (ICFIED 2023)
PB  - Atlantis Press
SP  - 371
EP  - 376
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-142-5_41
DO  - 10.2991/978-94-6463-142-5_41
ID  - Zhang2023
ER  -