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China yuan slips to lowest in a year

21 March 2014 Last updated at 03:30 GMT

The value of the Chinese yuan has fallen to its lowest level in almost a year to trade at 6.22 yuan to the dollar.

This follows a move by the country's central bank - the People's Bank of China - which last weekend widened the currency's trading band to allow it to move up to 2% from the daily midpoint that it sets daily.

There's speculation that China's central bank wishes to keep the currency weak to boost the country's economic growth.

Stuart Oakley, the head of Asian currency trading at Nomura, gave his view to the BBC's Sharanjit Leyl.

Watch more on Asia Business Report's website.

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