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Chinese Yuan to remain stable in the long term: report
The central parity rate of the Chinese currency renminbi, or the yuan, continued its recent weakening streak Thursday, fueling concerns over the devaluation of yuan. On Thursday, the yuan's central parity rate weakened 39 basis points to 6.8688 against the U.S. dollar, following the 284-basis-points plunge Wednesday, according to the China Foreign Exchange Trade System. China's sound economic fundamentals, stable supply and demand of the forex market and other factors, however, will continue to give strong support for the yuan to remain generally stable on a reasonable and balanced level, said a report carried in ... (full story)