Richard McGregor: Rumours on revaluation of renminbi increase

From the Financial Times:

China’s currency traded briefly outside its tightly controlled band on Friday, triggering a renewed wave of speculation that the government was preparing to allow a long-expected revaluation.

The unexpected price move followed weeks of international pressure on China to allow the to appreciate. But the People’s Bank of China, the central bank, said it had made no decision to change its policy.

April 29, 2005, 8:42 PM
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Categories: Economy