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Article: China : China to Base Yuan on Capital Flows, Major Currencies.
- Article from:
- TendersInfo
- Article date:
- November 12, 2009
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Byline: Mamta03
China s central bank said foreign- exchange policy will take into account global capital flows and changes in major currencies, prompting speculation it will allow the currency to strengthen as the dollar weakens.
Policy makers will improve the setting of the yuan s rate in a proactive, controlled and gradual manner and based on international capital flows and movements in major currencies, the People s Bank of China s said today in a quarterly report. It scrapped the pledge made in its previous such report to keep the yuan basically stable.
The change in description of the yuan policy may signal an early warning to the market, ...