| 04.07.2014 - China Takes Step Toward Freeing Currency from State Control |
| China has permitted banks to freely set their own exchange rates for the renminbi against the dollar in over-the-counter transactions — another step toward freeing the exchange rate from government control. Banks were previously required to price the exchange rate that they offered clients within 3 percent in either direction of the Chinese central bank’s midpoint on a given day...............................................Full Article: Source |