Examples of use of Old Peg
1. China has bowed to months of market and political pressure by revaluing the yuan by 2.1% and abandoning the currency‘s decade–old peg against the dollar.
2. The renminbi has strengthened 1.1 per cent against the dollar since Beijing revalued the currency by 2.1 per cent and dropped a decade–old peg on July 21.
3. But Beijing‘s success in reducing pressure on the currency is coinciding awkwardly with rising foreign pressure for a change in the decade–old peg.
4. China dropped its decade–old peg to the US dollar in late July and revalued the renminbi by 2.1 per cent.
5. China revalued the yuan by 2.1 percent in July 2005 and cut it free from a decade–old peg to the dollar.