Yuan exchange rate uses a basket of currencies merely as a reference – PBOC’s Yi

By FXStreet Additional headlines from PBOC Deputy Governor Y Gang that crossed the wires earlier today are as under:

The yuan exchange rate uses a basket of currencies merely as a reference and should not be seen as being pegged strictly to that basket

Market supply and demand, the movement of the basket and the managed floating rate regime, are the main factors for the central bank to consider
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Source:: FX Street