Time 'not right' for yuan float

Responding to comments Wednesday by U.S. Federal Reserve Chairman Alan Greenspan that China eventually will need to float its currency, the yuan, a Chinese foreign ministry spokesman said the current exchange rate helps China's development and the rest of Asia as well.

Source: CNN

As the chorus of criticism grows about the perceived low value of the Chinese currency, leading economists back Beijing's assertion that the time is not yet right to float the yuan.

China's yuan is pegged in a band of