Proceedings of the 2022 4th International Conference on Economic Management and Cultural Industry (ICEMCI 2022)

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The Impact of International Commodity Price Changes on RMB Exchange Rate

Authors
Wen Zhou1, *
1Faculty of Economics and Finance, Chongqing University of Technology, Chongqing Municipality, 400054, China
*Corresponding author. Email: 15832135591@163.com
Corresponding Author
Wen Zhou
Available Online 27 December 2022.
DOI
10.2991/978-94-6463-098-5_57How to use a DOI?
Keywords
International commodity price; Real effective exchange rate; Error correction model; Cointegration analysis
Abstract

In recent years, the international situation has changed and the Black Swan incident has taken place frequently. The international commodity prices fluctuate obviously. As an important importer of international commodities, China's exchange rate is also affected by commodity prices. This paper will use stationarity analysis, error correction, cointegration test and other methods to quantitatively analyze the linkage between commodity and RMB real exchange rate, and find that the impact of commodity on RMB exchange rate is negative in the short term. At the same time, it is proposed to reduce the adverse risks brought by the changes in international commodity prices to China's exchange rate by strengthening the internationalization of RMB, guarding against changes in the monetary policies of major international countries and increasing the pricing power of RMB for commodities.

Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 2022 4th International Conference on Economic Management and Cultural Industry (ICEMCI 2022)
Series
Advances in Economics, Business and Management Research
Publication Date
27 December 2022
ISBN
10.2991/978-94-6463-098-5_57
ISSN
2352-5428
DOI
10.2991/978-94-6463-098-5_57How to use a DOI?
Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Wen Zhou
PY  - 2022
DA  - 2022/12/27
TI  - The Impact of International Commodity Price Changes on RMB Exchange Rate
BT  - Proceedings of the 2022 4th International Conference on Economic Management and Cultural Industry (ICEMCI 2022)
PB  - Atlantis Press
SP  - 515
EP  - 521
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-098-5_57
DO  - 10.2991/978-94-6463-098-5_57
ID  - Zhou2022
ER  -