State to relax RMB exchange rate rules
New system set to pay more heed to market supply and demand
The renminbi exchange rate will be more flexible, basically determined by the market's supply and demand situation, a senior official with the State Administration of Foreign Exchange (SAFE) said on Wednesday.
The currency's exchange rate reform towards a more market-oriented mechanism will continue, said Lu Lei, the SAFE deputy director, while the renminbi weakened for the second straight trading session after hitting the 21-month high on Monday.
Photo