PBOC Deputy Governor: Will keep yuan exchange rate basically stable

Dhwani Mehta FXStreet

People’s Bank of China (PBOC) Deputy Governor Liu Guoqiang said in a statement on Tuesday, the central bank “will keep yuan exchange rate basically stable.”

Additional quotes

“Will maintain various policy tools to keep liquidity reasonably ample.”

“Will step up cross-cyclical policy adjustments in 2022.”

“Yuan exchange rate may deviate from equilibrium in near-term, but will correct over long-term.”

Another PBOC official was reported as saying that “property sales and financing steadily returning to normal.”

Market reaction

USD/CNY was last seen trading at 6.3509, up 0.06% on the day.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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