China rejects gradual revaluation
By Wanfeng Zhou,
MarketWatch
Last Update: 2:32 PM ET July 26, 2005
NEW YORK (MarketWatch) -- China's central bank threw cold water Tuesday on
speculation that the yuan will be allowed to strengthen further.
"A revaluation of RMB by 2%, effective in the
beginning of the exchange rate regime reform, does not in the least imply an
initial move which warrants further actions in the future," the People's
Bank of China said in a statement on its web site....
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