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China central bank official defends rapid use of foreign reserves to keep yuan steady
Published Wed, Jan 25, 2017 · 09:50 PM
Beijing
A SENIOR official at China's central bank has defended authorities' rapid use of foreign exchange reserves to keep the yuan currency stable, saying the benefits "outweighed the drawbacks", according to a state newspaper.
"The use of foreign reserves has kept the yuan stable and prevented market overshooting," the Ren Min Zheng Xie Bao paper quoted …
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