China claims success on currency front

The People's Bank of China has said upward pressure on its currency is being reduced with the help of regular open market offerings of central bank bills. "We will persist with the central bank bills for some time to come" said Dai Genyou of the monetary policy department, due to the high level of foreign exchanges reserves held by China.

Source: Financial Times

China's central bank says it is alleviating domestic upward pressures on its currency successfully, even as politicians around the wor

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