Rmb Exchange Rate Research Paper

ABSTRACT
This research is to study some long-term factors how International income and expenses, the economic growth and inflation rate.As well as short-term factors such as The central bank's intervention.The public's expectations,Interest rates and Foreign exchange reserve etc affect impact of RMB exchange rate changes,And then summarizes the problem of exchange rate changes, and then make some countermeasures to improve the RMB exchange rate system .We need to determine whether the factors above have significant impact on GDP, either positive or negative.

CHAPTER 1

1.0 Introduction The outline of chapter one will be starting with discussion on the introduction of the title selected . Further down to this chapter, we will be discussing

First stage: from 1979 to 1993. Because of the planned economy period,RMB exchange rate as a tool for planning and business accounting, in a long period of time the RMB exchange rate is fixed and overvalued, so after the reform and opening up, after a long time, in order to meet the needs of the economic system reform and economic development, the RMB exchange rate is lower, Then increased foreign exchange swap market exchange rates. Until the end of 1993, official RMB/us dollar exchange rate，From 180 yuan /$100 dollars in 1979 Down to 580 yuan/$100 dollars ,By 73% overall.
The second stage: from 1994 to 2005. In January 1, 1994, official RMB exchange rate and foreign exchange market exchange rate, China began to implement based on market supply and demand and have managed exchange rate system. In the beginning, the official exchange rate to 33.3% declines in one-off. However, because the Chinese government for consideration is consistent with the foreign exchange rate at first, out of control, in fact, the range of the devaluation of the RMB exchange rate is only 6.7%. After that, the RMB exchange rate has long been overvalued situation has improved, exchange rates tend to be more reasonable, from then on, changed the long-term decline rate. From 1994 to the end of 1997，The RMB against the dollar exchange

About the end of the RMB exchange rate fixed exchange rate system with $10 years, and establish a managed exchange rate system. Since then, the RMB is gradually to the way of appreciation. On May 15, 2006, the RMB exchange rate for the first time to break the 8. In 2007 as China's economic development, the RMB appreciation is also rapidly increasing, in a short span of two years, from 8 : 1RMB/ dollar to rise to 6.8 RMB/ dollar exchange rate, near rise as high as 15%. October 2012, RMB/ dollar.But also realize the historic breakthrough of RMB exchange rate, exchange rate appreciation to near 6.