Reuters UK, 19 Mar 2009, Simon Rabinovitch and Lu Jianxin
BEIJING (Reuters) - Long accused by critics in the West of keeping its exchange rate undervalued, China may now be tip-toeing onto the other side of the currency trade to sell dollars and ward off depreciation pressure on the yuan.
Traders and analysts say that any intervention by the People's Bank of China has been small, barely enough to make a ripple in the market, but that it will show through with a drop in the country's stockpile of foreign exchange reserves.
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