Three-quarters of RMB participants feel depreciation pain
RMB volatility causes losses in market
Bank traders estimate around three-quarters of participants in the renminbi market lost money during the recent and ongoing depreciation of the Chinese currency against the US dollar.
In February, the People's Bank of China (PBoC) launched a steady attack on the dominant, long-only renminbi position, which had been entrenched in the market for a number of years.
"The perception is that this has been one of the biggest episodes of central bank intervention in recent years." says Vipul Agarwal
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