Bank of China said Friday that it expects.....>

CHINA: Bank of China said Friday that it expects the yuan to strengthen back to

the same level it was at before exchange-rate reforms were implemented on Aug.

11, 2015 due to the current presence of five factors: China's stable economic

performance, a basic balance of cross-border capital flows, a weak U.S dollar

index, a wide interest rate spread between China and U.S government bonds, and

active forex management by Chinese government regulators. On Aug. 11, 2015, the

People's Bank of China unexpectedly announced it was changing its central parity

rate determination mechanism, using the closing rate of the previous day as the

main reference for setting the yuan's exchange rate. Since that day, when the

yuan was valued at about 6.2 against the U.S. dollar, the yuan has mostly been

on a depreciation track. Bank of China did not say when it expected the yuan to

reach a level of 6.2