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PBOC says market decides the yuan's exchange rate
Original: PBOC: Market decides yuan's exchange rate
The People's Bank of China stated that the market determines the yuan's exchange rate, a reaffirmation of the country's currency policy. The statement, reported by China Daily, signals the central bank's position on how the renminbi is valued, drawing attention amid ongoing debate over China's currency management and its implications for trade and global markets.
Why now: Currency policy statements from China's central bank draw attention given the yuan's role in global trade and financial markets
People's Bank of ChinayuanChina
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Evidence
- PBOC: Market decides yuan's exchange rate · chinadailyhk
- PBOC: Market decides yuan's exchange rate · China Daily
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