China's central bank said on Saturday that it would allow a more flexible yuan, signaling an end to the currency's two-year peg to the U.S. dollar. The statement, posted on the web site of the People's Bank of China, said the decision to increase the RMB's exchange rate flexibility was made because of the improving economy but that any large-scale appreciations had been ruled out. The RMB's 0.5 percent daily trading band will remain the same.
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