China says revaluation to slow reserves rise

The rapid build-up in China's foreign exchange reserves should slow following the revaluation this year of the renminbi, the People's Bank of China said on Wednesday 30 November.

China's central bank reiterated it had no timetable for full convertibility of the yuan, a day after the US Treasury stopped just short of naming Beijing a currency manipulator.

The statement about the impact of the revaluation came in the form of an interview with an unnamed People's Bank of China official in the Chi