The People's Bank of China, the central bank, decided in mid-June to proceed further with the reform of the yuan exchange rate regime. The intention is to increase the currency's flexibility and make it better reflect market supply and demand relations with reference to a basket of currencies.
The yuan has appreciated about 3 percent against the dollar since the June move.
Many analysts expect the yuan to appreciate modestly, but visibly, against the dollar in 2011. Over the medium term, it is expected that the currency will continue its gradual appreciation.
Source:China Daily
The yuan has appreciated about 3 percent against the dollar since the June move.
Many analysts expect the yuan to appreciate modestly, but visibly, against the dollar in 2011. Over the medium term, it is expected that the currency will continue its gradual appreciation.
Source:China Daily
