Market should have bigger role in deciding yuan value: official
World BusinessApr 22, 2012
China’s decision to widen the yuan’s trading band against the dollar means investors can play a bigger role in determining the value of the currency, People’s Bank of China deputy Governor Yi Gang said. “It’s time to let the market more or less decide the exchange rate while reducing the intervention on the market,” Yi said Saturday at an event in Washington, where he’s attending the spring meetings of the International Monetary Fund. He said market forces have already played an “important role”