China not planning more yuan revaluations

A senior official from the People's Bank of China said Thursday 15 September that China will not adjust its exchange rate through another revaluation.

Yi Gang, an assistant to the governor of the People's Bank of China, Zhou Xiaochuan, said Beijing was confident it can keep the yuan stable while allowing it to adjust gradually to market pressures under what it calls a "managed floating regime."

"The exchange rate would continue to be set by the managed floating regime rather than by official re

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