Insight
Renminbi devaluation: five things you need to know
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Report summary
China devalued the renminbi on Tuesday August 11 for several reasons. Short term it supports China's flagging industrial sector via an improved trade balance, strengthening corporate profitability and wage growth. Long term it gets China one step closer to making the renminbi an international reserve currency with potentially significant long term implications for commodity markets. This Insight analyses the impact of the devaluation on: steel, aluminium, copper, coal, oil, gas, and chemicals.
Table of contents
- Executive summary
- Renminbi devaluation: five things you need to know
- 1. What happened?
- 3. How significant is the impact on trade?
- 4. Internationalisation of the renminbi
- 5. What impact will the devaluation have on commodities?
- Steel
- Aluminium
- Copper
- Coal
- Oil
- Gas
- Chemicals
- Conclusion
Tables and charts
This report includes 7 images and tables including:
- Nominal exchange rate indices (long term)
- Nominal exchange rate indices (short term)
- China's manufactured goods to Japan, US and the Eurozone (3 month moving average)
- Imports from China for key selected economies
- Annual RMB forecast
What's included
This report contains:
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