The Yuan is expected to face large fluctuations in 2012 but
mainly appreciate by 2%-3% against the USD over the year, said professor at Fudan University. The central bank of China essentially
increased a daily reference rate to 6.3 Yuan per one USD. The Chinese
currency is allowed to fluctuate by 0.5% above or below the reference rate.
Wider currency fluctuations will positively affect China's system for
determining exchange rates and decrease the Yuan appreciation, the professor
added.
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