Under what is termed a 'managed float,' the Chinese currency has been allowed to fluctuate within a narrow range determined by the People's Bank of China, the central bank. In the past 12 months, the yuan has firmed to current levels around 8.30 to a dollar. The aim of the series is to provide a forum for members' research in the broad area of finance and economics. It also serves to foster intellectual exchanges and networking among members with similar research interest. The primary focus will be on timely issues that are applicable to real world practices.
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