Currency market.. China pledges to prevent excessive rise in the yuan exchange rate
I pledged To prevent the exchange rate of its local currency from rising .
The People’s Bank of China said in a statement today: "It will maintain exchange rate flexibility, strengthen its efforts to guide expectations and guard against the risks of appreciation of the Chinese currency, according to its Financial Stability Report (2025) issued"At the same time, reiterating its commitment to maintaining the stability of the yuan at a reasonable level.
Yuan exchange rate
The central bank set the yuan exchange rate at (7.0358) yuan to the dollar, that is, (301) points lower than the average estimates of traders and analysts in a survey conducted by Bloomberg News Agency.
The gap between the reference exchange rate that limits the yuan’s movements in the local market was (2%) in both directions and the forecast is the largest since the survey began in 2018.
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