>it’s exchange rate is set by fiat. Trade might be controlled, but definitely no... | Hacker News

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		leemailll on Jan 23, 2018 \| parent \| context \| favorite \| on: Europe’s central banks are starting to replace dol... >it’s exchange rate is set by fiat. Trade might be controlled, but definitely not flat http://www.xe.com/currencycharts/?from=USD&to=CNY&view=10Y

seanmcdirmid on Jan 23, 2018 [–]

They directly adjust the exchange rate each day, it is not set by the market. There is a market based rate in Hong Kong for RMB (referred to as CNH), but it necessarily closely follows the government rate.

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