People’s Bank of China (PBoC) deputy governor Hu Xiaolian stated that the central bank may soon publish the nominal exchange rate against a basket of currencies on a regular basis, state media reported, citing a statement published on the bank’s website. Hu said that with the change the central bank hopes to divert a myopic focus on the yuan’s exchange rate against the dollar. He also said that the different currencies which comprise the basket would reflect the diversity of China’s global economic reach.
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