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China to keep yuan exchange rate basically stable: PBOC
The exchange rate of China's currency, the renminbi, or yuan, has remained basically stable at a reasonable and balanced level this year and will continue in this manner, a senior central bank official said on Sunday. Two-way fluctuations, either appreciation or depreciation, of the yuan will become the norm in the future, with the yuan exchange rate continuing to depend on market supply and demand as well as changes in the international financial markets, said Liu Guoqiang, deputy governor of the People's Bank of China (PBOC). The managed floating exchange rate system based on market supply and demand, and adjusted ... (full story)