Lawmakers from China are likely turning more towards making the yuan more market-oriented. After the weekend news that the People’s Bank of China Governor Yi Gang favored flexible rate for the Chinese Yuan (CNY), Bloomberg came out with a report on early Tuesday saying Pan Gongsheng, head of the State Administration of Foreign Exchange, supports more transparent, rule-based CNY reference rate. “The yuan’s daily reference rate needs to be more transparent and rule-based, and the market should be allowed to play a bigger role setting the price,” the report quoted China’s state admin of Forex speaking at the annual China Development Forum in Beijing. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next USD/JPY’s midly bid above 110.00, BOJ’s Sumary of Opinions reiterates need for powerful easing FX Street 4 years Lawmakers from China are likely turning more towards making the yuan more market-oriented. After the weekend news that the People's Bank of China Governor Yi Gang favored flexible rate for the Chinese Yuan (CNY), Bloomberg came out with a report on early Tuesday saying Pan Gongsheng, head of the State Administration of Foreign Exchange, supports more transparent, rule-based CNY reference rate. "The yuan's daily reference rate needs to be more transparent and rule-based, and the market should be allowed to play a bigger role setting the price," the report quoted China's state admin of Forex speaking at the annual China… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
