China’s central bank to keep yuan stable | 2019-05-21 | daily-sun.com

China’s central bank to keep yuan stable

21 May, 2019 12:00 AM printer

BEIJING: China’s central bank will maintain basic stability of the yuan exchange rate within a reasonable and balanced range, according to comments posted on its website on Sunday.

Pan Gongsheng, deputy governor of the People’s Bank of China (PBOC), told the PBOC-run Financial News in an interview that the central bank was confident in its ability to maintain stable operation of China’s foreign exchange market, report agencies.

The PBOC will also make the necessary counter-cyclical adjustments and strengthen macro prudential management according to changes in the situation, as well as combating illegal and irregular behaviour and safeguarding good order on the foreign exchange market, said Pan.


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