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Yuan To Remain Basically Stable - PBOC Source

CHINA PRESS
MNI (Singapore)

The People’s Bank of China will monitor the yuan's trend, strengthen expectations management and curb speculation to keep the currency basically stable with two-way fluctuations rather than a “one-sided market”, CCTV News reported citing an unnamed source close to the central bank. The currency has strong support and a solid foundation for maintaining stability, the source was cited as saying. The CFETS yuan index, which measures the yuan's strength relative to a basket of currencies, is close to level seen in late 2021, the source added.

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