Yuan to fluctuate this year

Note: This section contains information in English only.
Source: China.org.cn

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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