China has adopted a fixed exchange rate to make their purchases of commodities such as oil less expensive.

Question

Quizplus · Accepted Answer

China does not use a fixed exchange rate; it uses a managed floating exchange rate system, where the value of its currency, the yuan (RMB), is allowed to fluctuate within a range determined by the People's Bank of China (PBOC) based on market supply and demand with reference to a basket of currencies.

China Has Adopted a Fixed Exchange Rate to Make Their