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Chinese central banker: Yuan can move in a wider range

Chinese central banker: Yuan can move in a wider range

News
Jamie Coleman
05/03/2012 | 13:23 GMT
  • Yuan FX rate now close to balanced level
  • A wider trading band will better reflect market supply/demand

According to Reuters headlines siting Xinhua, China’s official news agency.

Wider bands are a step in the right direction and suggest the FX rate will be less closely managed, a step toward China to becoming a market economy rather than a mercantilist economy.

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