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Exchange Rate To Remain Stable - SAFE

CHINA PRESS
MNI (BEIJING)

The yuan is expected to remain stable this year, as spill over from developed nations' monetary tightening eases and economic fundamentals improve, according to Wang Chunying, deputy director and spokesperson of the State Administration of Foreign Exchange. Speaking at a recent press conference, Wang said independent market actors determined the current FX rate and supply, and demand was balanced. China’s capital account remained stable and orderly, as foreign investors were increasingly attracted to CNY assets, which helped stabilise the FX market, he said.

MNI Beijing Bureau | lewis.porylo@marketnews.com
MNI Beijing Bureau | lewis.porylo@marketnews.com

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