Fluctuations in either direction will become the norm for China’s currency, the deputy governor of the country’s central bank said on Sunday, with the yuan exchange rate continuing to depend on market supply and demand, as well as changes in global financial markets.
FILE PHOTO: A China yuan note is seen in this illustration photo May 31, 2017.
BEIJING: Fluctuations in either direction will become the norm for China’s currency, the deputy governor of the country’s central bank said on Sunday, with the yuan exchange rate continuing to depend on market supply and demand, as well as changes in global financial markets.
The central bank will guide expectations in order to keep the yuan exchange rate basically stable on a reasonable and balanced level, Liu Guoqiang said, in comments in a statement posted on the website of the People’s Bank of China (PBOC), the central bank.
