China to ease currency controls14/04/2012 - 09:04:51
China's central bank announced a slight easing of its controversial currency controls.
It says it will allow the country's yuan to rise and fall by a slightly wider margin against the dollar in daily trading.
The change could allow a faster rise for the yuan, which Washington and other trading partners complain is undervalued.
However, any increase will probably be too small to satisfy many critics and Beijing already has warned that future gains will be limited.
The central bank said it would allow the yuan to fluctuate by up to 1% in value against the dollar each day beginning on Monday, up from 0.5%.
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