Yuan rate up to market
By Feng Jianmin |
April 23, 2012, Monday
|
Print Edition
Print Edition
CHINA'S central bank pledged to loosen its grip on the yuan's exchange rate and let market forces play a bigger role in deciding the currency's value.
"It's time to let the market more or less decide the exchange rate as we reduce the intervention in the market," People's Bank of China deputy governor Yi Gang told a forum during the weekend in Washington.
"It's time to let the market more or less decide the exchange rate as we reduce the intervention in the market," People's Bank of China deputy governor Yi Gang told a forum during the weekend in Washington.
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