BEIJING, (MILLAT/APP/AFP) – China’s central bank governor
said Friday the yuan should be “relatively stable” this year after
losing seven percent of its value in 2016.
People’s Bank of China Governor Zhou Xiaochuan said the
world’s number-two economy was expected to stabilise after posting
its slowest growth in more than a quarter of a century last year,
with benefits for the yuan.
“Under these circumstances, we believe this year that the
yuan exchange rate will be relatively stable,” Zhou said
in Beijing.
He added however that “no one can predict exactly what
uncertainties and events” will impact the yuan.
“Of course, the foreign exchange market is always very
sensitive, and will follow the overall global economy, as well
as continuing fluctuations in China.”