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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Singapore Asia Pacific World Yuan trading band 'appropriate' for now: PBOC official AFP - 1 hour 28 minutes ago Send IM Story Print Yuan trading band 'appropriate' for now: PBOC official Slideshow: Full Photo Coverage: Business & Economy BEIJING (AFP) - – The yuan's daily trading band is "appropriate" for the time being but could be widened in the future, a vice-governor of China's central bank said in an interview published Monday. The yuan is currently allowed to rise or fall by up to 0.5 percent against the dollar within a given trading day, from a central parity rate set daily by the People's Bank of China. In June, the central bank pledged to loosen its grip on the yuan and allow the currency to trade more freely against the dollar, and some had speculated that Beijing would widen the trading band to make the yuan more flexible. But PBOC vice-governor Hu Xiaolian said in an interview with the Century Weekly magazine that the current band is "quite appropriate" for now. "Judging from the development direction, it could be expanded in the future -- this can be studied and discussed," she said, according to excerpts of the interview posted on the magazine's website. China is under international pressure to allow the yuan to appreciate, amid criticism from US lawmakers and others that the unit is undervalued by as much as 40 percent, giving Chinese exporters an unfair advantage. Last week, the International Monetary Fund released a staff report which charged that the yuan was "substantially" undervalued despite Beijing's policy change in June. In July 2005, China freed the yuan from an 11-year-old peg to the dollar and moved to a tightly managed floating exchange rate. The yuan had been effectively pegged at about 6.8 to the dollar since mid-2008, when the global financial crisis started to bite, until the June announcement. Since the policy change, the yuan has gained more than 0.7 percent against the greenback. Recommend Send IM Story Print Related Articles New car sales in Japan up 15 percent on-year AFP - 13 minutes ago Indonesia's Newmont workers to strike until Aug.10 - union Reuters - 25 minutes ago JGB 10-yr yield sinks to 7-yr low on easing prospects Reuters - 26 minutes ago SNAPSHOT-Indian policy highlights on Monday, Aug 2 Reuters - 27 minutes ago Vimpelcom Ltd names TNT's Van Dalen its CFO Reuters - 28 minutes ago News Search Top Stories Space station drama as cooling system fails Cuba eyes more self-employment, not market reforms Palin to reporter-next-door: 'Get a life' Elite US cyber team courts hackers to fight terrorists Gulf residents fear being forgotten along with oil spill More Top Stories » Related Full Coverage China Economychina economy All Full Coverage » ADVERTISEMENT Most Popular Most Viewed Most Recommended 'Overwhelming emotion' as Chelsea Clinton marries Calcium supplements linked to heart attacks: study Debate on death and taxes heats up as billionaires fall China, Vietnam, Iran win UNESCO heritage honours New BP boss off to Russia to mend fences: report More Most Viewed » Parachuting donkey shocks Russian beachgoers Argentine students crack three-decade-old murder mystery World's first full face transplant man appears on TV Paris Hilton caught with cannabis in handbag Calcium supplements linked to heart attacks: study More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo! Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Asia Entertainment Photos World Cup 2010 Copyright © 2010 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Privacy Policy - Terms of Service - Community - Intellectual Property Rights Policy - Help

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