JOURNAL ARTICLE

LEVEL AND VOLATILITY SPILLOVERS OF ONSHORE AND OFFSHORE RMB EXCHANGE RATE IN GLOBAL AND REGIONAL MARKETS.

  • Published In: Singapore Economic Review, 2025, v. 70, n. 2. P. 429 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: ZHAN, MINGHUA; ZHOU, QIAN; XU, YUELI; WU, ZHOUHENG 3 of 3

Abstract

This paper investigates onshore and offshore RMB exchange rates' bi-direction spillover effects with seven global and Asian currencies. We find that the onshore RMB exchange rate has more substantial global and Asia spillovers in both mean and volatility than offshore RMB. Offshore RMB exchange rate shows no outward level and ARCH spillovers to three widely traded global currencies. Moreover, we examine spillover effects changes along with RMB exchange rate policy reform. We found that although the volatility of both onshore and offshore RMB increased, the onshore RMB spillovers strengthen while offshore RMB spillovers decline. [ABSTRACT FROM AUTHOR]

Additional Information

  • Source:Singapore Economic Review. 2025/03, Vol. 70, Issue 2, p429
  • Document Type:Article
  • Subject Area:Business and Management
  • Publication Date:2025
  • ISSN:0217-5908
  • DOI:10.1142/S0217590821500326
  • Accession Number:186630067
  • Copyright Statement:Copyright of Singapore Economic Review is the property of World Scientific Publishing Company and its content may not be copied or emailed to multiple sites without the copyright holder's express written permission. Additionally, content may not be used with any artificial intelligence tools or machine learning technologies. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Looking to go deeper into this topic? Look for more articles on EBSCOhost.