USEUROPEAFRICAASIA 中文双语Français
Business
Home / Business / Finance

Yuan has 'characteristics of stable, strong currency'

By XIN ZHIMING | chinadaily.com.cn | Updated: 2016-11-27 23:54

Yuan has 'characteristics of stable, strong currency'

An employee at a bank counter in Nantong, Jiangsu province, counts renminbi and dollars. [Photo/China Daily]

Yi Gang, deputy governor of the People's Bank of China, the central bank, told Xinhua News Agency late Sunday that the yuan remains a stable and strong currency in the global monetary system, and it cannot be ruled out that the US dollar could drop.

Yi said the yuan's depreciation against the dollar is quite limited compared with other currencies and it has risen significantly against a basket of major currencies in recent years, thus "presenting the characteristics of a stable and strong currency in the global monetary system".

He also said that in the future, it is absolutely possible that the yuan's exchange rate would "remain relatively stable at a reasonable and balanced level".

Most Viewed in 24 Hours
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US