Some yuan flexibility good, China central bank boss tells Bloomberg

Written by on June 7, 2019

A 100 Yuan note is seen in this illustration picture in Beijing
A 100 Yuan note is seen in this illustration picture in Beijing March 7, 2011. REUTERS/David Gray/File Photo

June 7, 2019

SHANGHAI (Reuters) – A “little bit of flexibility” in the yuan currency is good for the Chinese and global economies, and there is no “numerical number” for the exchange rate that was more important than another, Bloomberg quoted China’s central bank governor as saying on Friday.

The China-U.S. trade war would exert “temporary depreciation pressure on renminbi, but you see, after the noise, renminbi will continue to be very stable and relatively strong compared to emerging market currencies, even compared to convertible currencies,” it quoted Governor Yi Gang as saying.

(Reporting by John Ruwitch; Editing by Simon Cameron-Moore)

Source: OANN

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