Yuan-Dollar Peg Loosened for First Time in a Decade China loosened its fixed-exchange rate against the dollar for the first time in a decade, letting the yuan fluctuate versus a basket of currencies, the People's Bank of China said on its Web site. | China Scraps Currency Peg to US dollar The Central Bank announced Thursday it would tie the yuan to a basket of currencies, the first step in the highly anticipated reforms aimed at letting the currency float freely. |
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