Foreign Exchange News
- Banker scotches yuan band widening talk
Date: 12-Dec-2006 Sources: (Shenzhen Daily)
THE government is not considering widening the daily trading band of its yuan currency, according to a senior central banker quoted by the Shanghai Securities News yesterday.
The remarks by Tang Xu, director of the research department under the People's Bank of China, follow speculation that China may widen its trading band against the U.S. dollar because the pace of yuan appreciation has quickened in recent weeks. 'Currently, there is no problem with the trading band. It does not need to be discussed,'Tang was quoted by the newspaper as saying.
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