Political attention in recent years has focused on the renminbi’s nominal exchange rate with the dollar, with pressure on China to let its currency appreciate.
In fact, over time the renminbi has appreciated against the dollar, particularly when the real exchange rate – which accounts for domestic inflation relative to foreign inflation – is calculated. But the appreciation against other currencies has been much milder, especially the euro.
This interactive graphic explores how China’s real and nominal exchange rates against its main trading partners have fluctuated over time using data constructed by Eswar Prasad, professor at Cornell University and a senior fellow at the Brookings Institution.
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