– CORRECTION: CORRECTS headline to say 2017 sted as sent.
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.”