With the Saturday evening announcement that China would allow its currency - the renminbi - to fluctuate drawing acerbic postings, the Chinese central bank Monday decided to leave the currency unchanged; thereby representing noticeable attempts to assure the people in the country that the change will not be a disruptive one.

The daily reference rate set by the Chinese central bank on Monday was 6.8275 per dollar; which was the same as the reference point on Friday - the day before China promised to allow the yuan to trade more flexibly.

The stock markets in Asia reported a rise on Monday morning, with the Nikkei 225 index going up 1.5 percent; largely because investors apparently deduced that China’s willingness to act on the currency could diminish the possibility of trade frictions with the US.

However, China’s dogged decision to limit the rate at which the renminbi rises against other currencies, especially the dollar, and hold the currency unchanged on Monday morning further increased the chances of friction with the US Congress.

Responding to China’s Monday move, New York Democrat Senator Charles E. Schumer said: “Just a day after there was much hoopla about the Chinese finally changing their policy, they are already backing off. It is only strong legislation that will get the Chinese to change, and will stop jobs and wealth from flowing out of America as a result of unfair trade policies.”