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RSS FeedsChina should defend the yuan at 7 to the US dollar, central bank adviser says
(WorldNews China)

 
 

15 december 2018 13:32:10

 
China should defend the yuan at 7 to the US dollar, central bank adviser says
(WorldNews China)
 


China should not allow the yuan to fall below 7 to the US dollar or attempts to stabilise the currency will become more costly on the country’s foreign exchange reserves, an adviser to the People’s Bank of China said on Saturday. Policy insiders said in October that China was likely to use its vast currency reserves to stop any precipitous fall through the psychologically important level of 7 yuan per dollar because it could risk triggering speculation and heavy capital outflows.......


 
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