The people's Bank of China reiterated that it will maintain the "basic stability" of RMB exchange rate
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Last Update: 2008-11-03
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Source: Internet
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Author: User
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Introduction: new page 1 [Reuters Beijing, 24 February] the people's Bank of China reiterated its long-standing position on Tuesday that it would maintain "basic stability" of the RMB exchange rate In its annual monetary policy report, the people's Bank of China said: "we will improve the RMB exchange rate formation mechanism and keep the RMB exchange rate basically stable at a reasonable and balanced level." JJ5 China has been resisting the pressure from foreign countries to revalue the RMB exchange rate, Pressure from the US, in particular, is currently pegged at around 8.3 per dollar But officials at the people's Bank of China have pledged to make the yuan more flexible JJ5
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