Yuan to stay stable in long term: forex chief

Beijing

THE yuan's exchange rate will remain stable in the long run, and two-way trade will be maintained in the currency market, the head of foreign exchange strategy at China's central bank said, sounding a reassuring note in the face of a recent slide in the yuan's value due to increasing outflows from the world's second-largest economy.

The yuan has fallen to around 6.27 per US dollar in 2015, its weakest level since 2012, and capital outflows have increased in part as a result.