China Premier Li says no basis for continued yuan depreciation
Tweet
Share
E-mailBEIJING (Reuters) - There is no basis for continued depreciation in the Chinese yuan
"Currently, there is no basis for continued depreciation in the renminbi (yuan), which is able to stay at a reasonable and balanced level," Li said.
China's economic fundamentals had not changed and the government could achieve its main economic targets for the year, he added.
The central bank shocked global markets by devaluing the yuan by nearly 2 percent on August 11. The PBOC called it a free-market reform but some saw it as the start of a long-term yuan depreciation to spur exports.
(Reporting by China economics team; Editing by Nick Macfie)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- US judge strikes down policy suspending immigrant visa processing for 75 nations
- US Navy aircraft transits Taiwan Strait before planned Xi-Trump meeting
- US Postal Service issues rules to tighten mail-in voting if court gives OK
Create E-mail Alert Related Categories
Forex, ReutersSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
