PBOC official expects a more market-oriented exchange rate

04/18/2013 | Bloomberg

After a rally in the yuan, People's Bank of China Deputy Governor Yi Gang said he expects the currency's trading band to be increased. "The exchange rate is going to be more market oriented," he said at an International Monetary Fund conference. "Last year, they increased the floating band from 0.5% to 1%. I think, in the near future, they're going to increase the floating band even further."

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