The impact of RMB changes on main currencies

• Main Authors: Hsin-Fa Yu, 尤信發
• Other Authors: Pei-Fen Chen
• Format: Others
• Language: zh-TW
• Published: 2019
• Online Access: http://ndltd.ncl.edu.tw/handle/et3tc7

碩士 === 國立中山大學 === 中國與亞太區域研究所 === 107 === The internationalization of the renminbi is one of the trendy topics of the international financial market. Facing China''s large market, many countries are competing to occupy a place. As a result, the wavering of Renminbi exchange rate has become the center of attention worldwide. It is even more so when the IMF announced that China''s renminbi will become part of the “basket” starting from October 1st, 2016. With international community’s help, renminbi has gradually increased its status. However, despite such change in the international financial market, the impact made by the fluctuation of renminbi exchange rate whether a huge one or a small one is still a topic worth exploring now more than ever. This paper takes the rate of change of RMB exchange rate as the central beginning and conducts empirical analysis with the currencies of major countries in the world. It conducts empirical analysis with relevant graphs, vector autoregression model, granger causality analysis, etc. The results of this research show that the influence of RMB exchange rate changes is bigger in East Asia, while it has a limited impact on other developed countries.