Source: CCTV.com

04-09-2009 11:05

Let's look back some of the key changes of the Chinese yuan over the past years.

Yuan Policy Changes

1994 China adopts a managed floating exchange rate policy. CNY8.70:USD1

1996 Dec 1 China adopts currency account convertibility. CNY8.3:USD1

2005 Jul 21 China ditches the dollar peg in favor of basket of currencies.

2006 Jan 3 China's central bank says it will introduce OTC transactions on the interbank spot foreign exchange market, effective January 4. Automatic price matching transactions are maintained.

2007 May 18 China's central bank widens the yuan's daily trading band, from 0.3% to 0.5%, effective May 21.

Let's look back some of the key changes of the Chinese yuan over the past years.

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Editor:Qin Yongjing