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I wonder if they'll actually let it float this time. I thought when they previously devalued it to 6.20 a few years ago they claimed they'd float it but instea
by eitally 11y ago
I wonder if they'll actually let it float this time. I thought when they previously devalued it to 6.20 a few years ago they claimed they'd float it but instead kept it statically pegged. Given macro-conditions, floating would probably make a lot more sense (if you agree with Tyler Cowen's perspective).
- achamayou 11y agoBut politically, that would be relinquishing a degree of control, something they've been loath to do in general, especially in areas that are of strategic importance.