Lawyers have predicted China’s central bank
decision to widen the renminbi (RMB) trading band against the
US dollar will prompt a continued and gradual loosening of
trading band widths.
The People’s Bank of China (PBOC) announced on
April 13 it was doubling the interbank foreign exchange market
trading band of RMB against the US dollar, to 1% from 0.5%. It
is the largest band widening, and has been widely seen as a