China's central bank vows to keep exchange rate stable
- 5 years ago
중국 인민은행 구두개입…"환율 안정 유지"
China's central bank vowed to keep its currency stable and continue with its economic stimulus policy.
The bank's deputy governor said People's Bank of China will try to keep the yuan from weakening past the key seven-yuan-per-dollar level through its monetary policy tools.
Beijing's currency has lost almost three percent to the greenback this month amid rising trade tensions.
The last time it weakened past seven dollars was more than ten years ago.
A weakening yuan could help raise the country's exports by lowering its prices but it could also trigger capital flight.
China's central bank vowed to keep its currency stable and continue with its economic stimulus policy.
The bank's deputy governor said People's Bank of China will try to keep the yuan from weakening past the key seven-yuan-per-dollar level through its monetary policy tools.
Beijing's currency has lost almost three percent to the greenback this month amid rising trade tensions.
The last time it weakened past seven dollars was more than ten years ago.
A weakening yuan could help raise the country's exports by lowering its prices but it could also trigger capital flight.