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China central bank sees no reason for yuan to fall further

PBOC chief says there's no need to worry about short- term fall in forex reserves

The bank will not let "speculative forces dominate market sentiment", Mr Zhou told Caixin. The country will not peg the yuan to a basket of currencies, but will seek to rely more on a basket for reference, while managing daily volatility versus the dollar, Mr Zhou said.


CHINA'S central bank governor said there's no basis for continued depreciation of the yuan because the balance of payments is good, capital outflows are normal and the exchange rate is basically stable against a basket of currencies, according to an interview published on Saturday...

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