Exchange rate co-movements and corporate foreign exchange exposures: A study on RMB

Qing He, Wenqing Wang and Jishuang Yu

International Review of Financial Analysis, 2023, vol. 90, issue C

Abstract: •Estimate the co-movements of large set of bilateral exchange rates/the RMB and explore their relationship with the firm-level exchange rate exposure in China•The co-movements of emerging market (EME) currencies have a weaker effect on exposure than the co-movements of developed market (DM) currencies•RMB’s internationalization reduces Chinese firms’ exposure to exchange rate fluctuations of EME currencies.

Keywords: Exchange rate co-movements; Exchange rate exposure; RMB internalization (search for similar items in EconPapers)
JEL-codes: G15 G32 G39 (search for similar items in EconPapers)
Date: 2023
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:finana:v:90:y:2023:i:c:s1057521923003472

DOI: 10.1016/j.irfa.2023.102831

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