China may link yuan trade to currency basket Emerging Markets Report – MarketWatch

China may link yuan trade to currency basket Emerging Markets Report – MarketWatch

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EMERGING MARKETS REPORT
July 23, 2010, 2:14 a.m. EDT · Recommend (6) · Post:
China may switch to currency basket for forex rate
Central bank official suggests move away from dollar as benchmark
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LOS ANGELES (MarketWatch) — A top Chinese central bank official suggested switching away from the U.S. dollar as a benchmark for the yuan’s foreign-exchange rate, switching instead to a basket of currencies, according to remarks published Thursday.

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