| China ends yuan-$ peg, yuan up 2% to 8.11/$ |
| Agencies / Beijing July 21, 2005 |
| China ended its decade-old currency peg to the dollar, and said it will let the yuan fluctuate versus a basket of currencies. The new yuan rate strengthens the currency by 2.1% to 8.11 yuan per US dollar immediately, the People's Bank of China said. Until now, the yuan had been pegged at about 8.3 per dollar. The bank said it will continue to maintain a trading band of 0.3%. Following is the full text of People |
