China Central Bank Says Will ‘Resolutely’ Curb Big Currency Swings

11 October 2022

China’s central bank spoke out against big currency swings on Tuesday, saying it will take steps to stabilise expectations, and keep the yuan basically stable. The People’s Bank of China (PBOC) also said that the yuan did not necessarily need to weaken against the dollar when the index measuring the U.S. currency’s performance against a currency basket rises.

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