China’s exchange rate policy will be controversial as long as the Chinese yuan (also referred to as the renminbi—renminbi is the currency, and yuan is the principal unit) is significantly undervalued. As we go to press in September 2010, the exchange rate is 6.8077 yuan per dollar. Go to www.bloomberg.com, scroll down to the red area at the bottom of the page, go to the “Market Data” column, and select “Currencies.” Using the Currency Converter, select the U.S. Dollar (USD) in the “from” row and select China Renminbi (CNY) in the “to” row. Since September 2010, how has the exchange rate between the yuan and the dollar changed?
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