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A staff worker with the China Minsheng Bank counts US dollar notes in Nanjing, East China's Jiangsu Province, Friday, July 22, 2005. The People's Bank of China, the central bank, announced to scrap the yuan's decade-old peg to the U.S. dollar, and in stead phase in a flexible mechanism of the yuan exchange rates by taking into account of a basket of major world currencies. The exchange rate of yuan vs U.S. dollar was announced at 8.11 vs 1 on Thursday. (newsphoto)
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| UPDATED 10:26, August 08, 2005 |
| PBOC on reforming the RMB exchange rate regime |
| China's central bank, recently announced that with approval from the State Council, and beginning from July 21, 2005, China will implement a regulated, managed floating exchange rate system based on market supply and demand and in reference to a package of currencies. |
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Latest News |
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| NO.1 - NO.22 |
Yuan's appreciation by appropriate margin benefits China in general (11:31, August 05)
Central bank to adjust float range of RMB exchange rate at proper time (09:07, August 05)
Exporters worries about RMB revaluation, attempt to seek opportunity (17:51, August 04)
Ordinary house buyers not hurt by RMB revaluation (12:43, August 04)
RMB exchange rate viewed from all sides (16:41, August 03)
RMB exchange rate reform--decided out of China's own need (17:16, July 29)
Stronger RMB to benefit outbound Chinese travellers (11:00, July 29)
Central bank denies further revaluation of RMB yuan (15:19, July 26)
Stronger RMB won't affect investment much (12:38, July 26)
Central bank governor on RMB exchange rate reform (16:53, July 25)
China to wield leverage of exchange rates on macro economy (09:55, July 25)
China's exchange rate reforms to trigger further progress:
S&P (09:54, July 25)
Soaring forex reserve challenges China's financial strategy (15:02, July 24)
China's central bank publicizes closing price rate of Chinese yuan (09:50, July 25)
RMB revaluation unexpected but just right: economists (11:04, July 23)
Review: Change of RMB system helps China adjust economic structure (17:21, July 22)
PBOC on reforming the RMB exchange rate regime (16:56, July 22)
Yuan's rate against dollar can float within 0.3 percent band, central bank (14:35, July 22)
China scraps yuan peg to US dollar  (14:28, July 22)
Chinese shares gain on RMB exchange rate change in morning session (15:18, July 22)
China says its currency not to float by big margin (14:31, July 22)
China scraps yuan peg, yuan to US dollar rate adjusted to 8.11 (14:30, July 22)
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