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Yuan To Keep Fluctuating In Two Way-Manner - Daily

CHINA PRESS
MNI (Singapore)

The yuan will continue to be subjected to two-way fluctuations while remaining basically stable at a balanced level, as the implementation of China’s pro-growth policies will consolidate the economic recovery and strengthen fundamental support for the yuan, the Economic Information Daily wrote. Capital inflows from robust foreign trade and investment will help maintain a basic balance between supply and demand in the FX market, the newspaper said. The CFETS RMB Index, a key currency index basket managed by the PBOC, is still above 100, meaning the yuan has shown strong resilience during the latest U.S. dollar rally when compared to major non-dollar currencies, the newspaper added.

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