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Update on the Renminbi at 2006-07-09 19:42:58
One year non-deliverable forward (NDF) contracts on the renminbi were pricing in a further 6% rise from today’s level of 8.11 to the dollar. The offshore NDF contracts had the renminbi at 7.64. (For more on NDF’s, see this previous post.)The Malaysian ringgit, the other currency to follow China’s move away from a hard peg and towards a managed float based on a basket of currencies, also saw
