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The Impact of COVID-19 on the Status of RMB as an Anchor Currency

Author

Listed:
  • Xing Fang
  • Weijuan Cao

    (School of Finance, Capital University of Economics and Business, China)

Abstract

In the context of a severely volatile global financial market in 2020, the Ren Min Bi (RMB) has also experienced dramatic fluctuations. We examine the impact of the COVID-19 pandemic on the status of the RMB as an anchor currency in countries along the “The Belt and Road†. The results show that the pandemic has caused a continuous adverse impact on the anchor role of the RMB.

Suggested Citation

  • Xing Fang & Weijuan Cao, 2021. "The Impact of COVID-19 on the Status of RMB as an Anchor Currency," Asian Economics Letters, Asia-Pacific Applied Economics Association, vol. 2(1), pages 1-5.
    • Handle: RePEc:ayb:jrnael:31
    DOI: 2021/08/10
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    References listed on IDEAS

    as
    1. Paresh Kumar Narayan, 2021. "Has COVID-19 Changed Exchange Rate Resistance to Shocks?," Asian Economics Letters, Asia-Pacific Applied Economics Association, vol. 1(1), pages 1-4.
    2. Bernard Njindan Iyke, 2020. "The Disease Outbreak Channel of Exchange Rate Return Predictability: Evidence from COVID-19," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 56(10), pages 2277-2297, August.
    3. Iyke, Bernard Njindan & Ho, Sin-Yu, 2021. "Exchange rate exposure in the South African stock market before and during the COVID-19 pandemic," Finance Research Letters, Elsevier, vol. 43(C).
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    covid-19; anchor currency; the belt and road;
    All these keywords.

    JEL classification:

    • F31 - International Economics - - International Finance - - - Foreign Exchange
    • I1 - Health, Education, and Welfare - - Health

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