Anselmo L S Teng: The international financial crisis – impact on Asia and lessons for Macao Speech by Mr Anselmo L S Teng, Chairman of the Monetary Authority of Macao, at the International Symposium on the occasion of the 35th anniversary of the Bank of Mozambique, Maputo, 17 May 2010.
In the past five years, the volatility of the RMB exchange rate against the US dollar averaged around 4 percent, slightly higher than before but lower than that of major currencies under the floating exchange rate regime. This indicates that the RMB exchange rate is relatively stable.