China has used a fixed yuan exchange rate and a crawling peg exchange rate. In both cases, China pegs its currency to the
A) U.S. dollar.
B) Japanese yen.
C) euro.
D) Mexican peso.

Question

Quizplus · Accepted Answer

China has historically pegged its currency, the yuan, to the U.S. dollar, using both fixed and crawling peg exchange rate mechanisms to maintain stability and control over its currency in relation to the dollar.

China Has Used a Fixed Yuan Exchange Rate and a Crawling