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- PBOC: Yuan exchange rate has solid basis to stay reasonably stable at balanced levels
PBOC: Yuan exchange rate has solid basis to stay reasonably stable at balanced levels
The People’s Bank of China (PBOC) said in a statement on Monday, “the Yuan exchange rate has a solid basis to stay reasonably stable at balanced levels.”
Additional takeaways
Reaffirms pledge to take action to correct one-sided and pro-cyclical activities.
Will resolutely fend off currency overshooting risks.
Will resolutely prevent speculation or incite clients to disrupt orders of FX market.
Market reaction
The USD/CNY pair was last seen trading 0.52% lower on the day at 7.3050.
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