RMB slide expected to end soon, despite Japanese minister's fears

Tokyo

JAPAN'S finance minister Taro Aso on Friday warned indirectly of further falls to the Chinese renminbi, though the rapid slide the currency has experienced so far this year has slowed in response to the People's Bank of China (PBOC) guiding its RMB fixing rate to a slightly higher level during the day.

China's foreign exchange reserves have already fallen sharply as a result of the purchases of yuan to support it, so it could be difficult to continue doing so, he said, hinting at further falls in the RMB's value.