Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
China loosens currency controls on the yuan
Source: BBC
15 April 2012 Last updated at 13:05 GMT
China loosens currency controls on the yuan
China has loosened its currency controls in a move that may spur gains in the value of the yuan.
From Monday, the yuan can fluctuate up to 1% in trading against the US dollar from a fixed price set by the central bank, the People's Bank of China said.
That is up from the previous limit of 0.5%.
The increase of the trading band was announced in English, a rare statement that suggests it was targeted at foreign audiences.
[font size=1]-snip-[/font]
China loosens currency controls on the yuan
China has loosened its currency controls in a move that may spur gains in the value of the yuan.
From Monday, the yuan can fluctuate up to 1% in trading against the US dollar from a fixed price set by the central bank, the People's Bank of China said.
That is up from the previous limit of 0.5%.
The increase of the trading band was announced in English, a rare statement that suggests it was targeted at foreign audiences.
[font size=1]-snip-[/font]
Read more: http://www.bbc.co.uk/news/business-17721335