Thematic Report

China’s currency depreciation

by Eric Fishwick & Amar Gill / Apr 16, 2016

Unless China can return to a balance of payments surplus, the central bank will have to adjust the exchange rate. Our chief economist Eric Fishwick expects forex-reserve depletion to push Beijing to let the renminbi find its market-determined value by 2H17. CLSA expects Rmb8/US1.