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China widens yuan trading band
Source: Xinhua |
April 14, 2012, Saturday
|
Online Edition
Online Edition
THE People's Bank of China (PBOC), or the country's central bank, announced today it will widen the yuan's daily trading limit against US dollar currency to 1 percent.
On the interbank foreign exchange spot market, Chinese banks can exchange the yuan 1 percent above or below the central parity announced by the PBOC.
Previously, the trading band was set at 0.5 percent.
On the interbank foreign exchange spot market, Chinese banks can exchange the yuan 1 percent above or below the central parity announced by the PBOC.
Previously, the trading band was set at 0.5 percent.
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