Conditions are right for Chinese yuan stabilityStaff Writer | November 28, 2016
Current conditions point to a stabilisation of China’s yuan after a volatile recent performance against the U.S. dollar, a central bank vice-governor said, adding that the currency remains strong.
Asia The yuan declined in value
“[China’s] international balance of payments are basically stable, the merchandise trade surplus remains relatively large, and the Chinese yuan has the conditions to remain basically stable within a reasonable range in the future,” People’s Bank of China vice-governor Yi Gang said on state TV.
Yi said the yuan showed characteristics of a strong currency as it had fallen less than other currencies against the dollar in recent weeks and rose versus other units in October, according to Xinhua. ■