摘要
In 2022,the RMB exchange rate(bilateral exchange rate against the US dollar,unless otherwisespecified)showstwo-wayandwide fluctuations due to the divergence of the US and China monetary policy and the interest rate spread turning negative.From last March to November,the RMB depreciated from 6.30 to around 7.30 within eight months,which was the fastest and deepest adjustment since the currency reform in early 1994.
