RMB slide expected to end soon, despite Japanese minister's fears
Taro Aso warns of further fall, but others say the Chinese currency may have stabilised
Add BT as a preferred source
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.
TRENDING NOW
Malaysia rules out US$1.9 billion takeover of passport supplier
Laos-China Railway picks up steam, but S-E Asian country struggles to capture gains
E-commerce is killing ‘real’ commerce, says China’s beverage king Zhong Shanshan
MedPark’s assistant CEO runs a hospital where patients, physicians precede profits
