China widened Yuan band

Note: This section contains information in English only.
Source: BBC
China has eased its currency control measures that is likely to result in more gains of the Yuan value. Starting from Monday, China's currency is allowed to swing to 1% during the trading session against its US counterpart from fixed value determined by the China's central bank, PBOC announced. The previous limit was 0.5%. The move is expected to contribute to fairer value of China's currency as the country was severely criticized for keeping the Yuan at artificially low level.

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