The People's Bank of China announced that with the approval of the State Council, China began to implement a managed floating exchange rate system based on market supply and demand with reference to a basket of currencies on July 2, 2005. The RMB has changed from a pegged exchange rate system to a reference basket of currencies.

Starting from 20 17 65438+ 10/0/0, according to the sampling rules of CFETS currency basket, 112016 is added to CFETS currency basket, and the number of CFETS currency baskets is from/kloc. There are: US dollar, Euro, Japanese yen, Hong Kong dollar, British pound, Australian dollar, New Zealand dollar, Singapore dollar, Swiss franc, Canadian dollar, Malaysian ringgit, Russian ruble, Thai baht, South African rand, Korean won, UAE dirham, Saudi riyal, Hungarian forint, Polish zloty, Danish krone, Swedish krone, Norwegian krone, Turkish lira and Mexican peso.