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FX Market Stability The Top Priority - PBOC

CHINA PRESS

Chinese regulators called on market participants to safeguard foreign exchange market stability and curb any significant movements in the yuan, the Securities Times reported citing a statement on the central bank website following a meeting of the China FX Market Self-Regulatory Framework. The meeting said the FX market is of great importance and maintaining stability is the top priority. The meeting warned speculating on one-way yuan movements and betting on any specific currency level. Banks that offer quotes for the daily fix of the yuan against the U.S. dollar should respect the mechanism, the meeting said.

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Chinese regulators called on market participants to safeguard foreign exchange market stability and curb any significant movements in the yuan, the Securities Times reported citing a statement on the central bank website following a meeting of the China FX Market Self-Regulatory Framework. The meeting said the FX market is of great importance and maintaining stability is the top priority. The meeting warned speculating on one-way yuan movements and betting on any specific currency level. Banks that offer quotes for the daily fix of the yuan against the U.S. dollar should respect the mechanism, the meeting said.