Sunday, June 20, 2010

Chinese criticize move to loosen exchange rate

Chinese criticize move to loosen exchange rate
China's move to make its currency exchange rate more flexible was criticized at home Sunday after being widely welcomed abroad.

The announcement by the central bank on Saturday suggested a possible break from the yuan's two-year peg to the U.S. dollar - a major source of friction between the countries - but ruled out any large-scale appreciation.


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