Central banker says China won't revalue yuan again

People's Bank of China deputy governor Ma Delun said the country won't revalue the yuan again after scrapping its peg to the dollar and will buy and sell currencies to prevent "excessive" movements in the exchange rate.

"The yuan is no longer pegged to the US dollar and will not see further official adjustment," Ma Delun, an assistant to the governor of the People's Bank of China told an economic forum in Beijing.

``In the near term, the central bank will use open-market operations to prevent the

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