Flexible yuan
By Feng Jianmin |
March 7, 2012, Wednesday
|
Print Edition
Print Edition
THE yuan should be allowed to fluctuate within a wider range in daily trading as China pushes forward an incremental reform in its foreign exchange system, a central bank adviser said yesterday.
China should widen the yuan's trading limit against the US dollar from the current 0.5 percent, set in 2007, to 0.7 or 0.75 percent on each side of the central parity rate, Li Daokui, an academic member of an advisory body to the People's Bank of China, said in Beijing.
Li's remark echoed that of central bank Governor Zhou Xiaochuan, who advocated a wider float of the yuan in Beijing on Monday.
China should widen the yuan's trading limit against the US dollar from the current 0.5 percent, set in 2007, to 0.7 or 0.75 percent on each side of the central parity rate, Li Daokui, an academic member of an advisory body to the People's Bank of China, said in Beijing.
Li's remark echoed that of central bank Governor Zhou Xiaochuan, who advocated a wider float of the yuan in Beijing on Monday.
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