RMB rate to stay stable, reasonable

Fluctuations due to changes in the external environment, says expert

Market fluctuations will not prevent the renminbi from becoming more free-floating, especially as major economic indicators point to it having strong foundations which will dismiss depreciation speculation in the second half this year, said a leading financial expert.

The renminbi exchange rate is approaching "clean floating" - an exchange rate regime without any government intervention and an exchange rate determined by market demand and supply, Huang Yiping, deputy head of the National School of Development at Peking University, and also a former member of the central bank's monetary policy committee, told China Daily in an interview on Monday.