(Bloomberg) -- The yuan was little changed after the
central bank said its decision to allow wider daily swings in the
currency wasn't aimed at boosting the pace of gains.
The change in the trading band to 0.5 percent from 0.3
percent ``doesn't mean the yuan will fluctuate by a lot or
appreciate by a large magnitude,'' the People's Bank of China
said in a statement in Beijing May 18. The yuan never gained by
the maximum amount under the previous limit.
Read more at Bloomberg Currencies News
central bank said its decision to allow wider daily swings in the
currency wasn't aimed at boosting the pace of gains.
The change in the trading band to 0.5 percent from 0.3
percent ``doesn't mean the yuan will fluctuate by a lot or
appreciate by a large magnitude,'' the People's Bank of China
said in a statement in Beijing May 18. The yuan never gained by
the maximum amount under the previous limit.
Read more at Bloomberg Currencies News
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