Economy of Hungary inflation rates of below, but close to 2% over the medium term". Since Hungary is in the process of catching up (Balassa-Samuelson effect), the long-term objective is a slightly higher figure, around 2.3-3.2%. Therefore, the medium term inflation target of the Hungarian National Bank is 3%. Concerning the exchange rate system, the floating exchange rate system is in use since 26 February 2008, as a result of which HUF is fluctuating in accordance with the effects of the market in the face of the reference currency, the euro. The chart on the right shows forint exchange rates for the British
Renminbi currency value Renminbi currency value Renminbi currency value is a debate affecting the Chinese currency unit, the "renminbi" ( Code:CNY). The "renminbi" is classified as a fixed exchange rate currency "with reference to a basket of currencies", which has drawn attention from nations which have freely floated currency and has become a source of trade friction with western nations Some economists have argued that the value of the "renminbi" should be allowed to appreciate by 20 to 40 percent against the US dollar. According to the International Monetary Fund (IMF), the "renminbi" is undervalued somewhere between five and 27 percent. The "renminbi"