NDRC: China capable of ensuring stable currency

The People’s Bank of China has set the midpoint rate for the yuan at 6.5152 against the greenback, stronger than the previous fix of 6.5237. And a spokesperson for the Chinese top economic planner says the country is capable of maintaining a stable yuan. 

“China still holds the largest forex reserves, with a rather big trade surplus. At the same time, the internationalization of the yuan is moving ahead in a stable manner. And the two-way fluctuation, the new normal for the RMB, remains unchanged,” said Zhao Chenxin, Spokesman of National Development and Reform Commission.

“In a nutshell, China is capable of keeping the yuan stable at a reasonably balanced level.”