Yuan not seen falling sharply

The Chinese currency will not depreciate sharply against the dollar by the end of this year, said Societe Generale SA, the French international banking group and financial services company.

He Xin, head of trading and managing director of Societe Generale China, said that he expected the yuan to fall slightly against the dollar to 6.8 at most in the next couple of months.

"The People's Bank of China, the central bank, has a strong ability and willingness to stabilize the exchange rates of the yuan," he said.