Yuan has condition to stay stable in long run – China CFETS

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 14, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Mumbai) - The China Foreign Exchange Trade System & National Interbank Funding Center (CFETS), a sub-institutional organization of People's Bank of China (PBOC), defended the recent depreciation in the Chinese yuan earlier today, with the following headlines as under:

    Market should not solely focus on usd/yuan exchange
    rate, should take basket of other currencies into consideration
    Yuan already has its correction against basket

    In reference to basket doesn't mean peg to basket

    Renminbi has "conditions" to keep basically stable in the medium to long term
    For more information, read our latest forex news.

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