/biz/ - Business & Finance

>>54399078
>back by the American Dollar
lol

>>54387030
>No clue what you are trying to say but its pegged at an exchange rate
It's not. There are daily trading bands to prevent volatility, beyond which a circuit breaker sets in. It floats over time. Similar to how our S&P futures overnight trading will halt if it exceeds the 5% daily band.
There was once a point in time where the yuan was actually pegged. That ended over a decade ago.

I have no expectation of convincing the two retards from last thread. It's very easy on an anonymous imageboard to get caught up in this delusion that you can never be wrong. Even when there's nothing left to be debated, even in cases of strict factual inaccuracy, even when the topic at hand is a simple definition for a single word, most posters will resort to trolling rather than admit their mistakes.
Still, I would hope most of you are capable of understanding such concepts as a fixed currency peg.