Chinese regulators vow to crack down on yuan exchange manipulation
Reuters, 28 May 2021
Chinese regulators including the central bank will crack down on manipulation of the forex market, according to a statement published on the central bank’s website on Thursday.
The regulators said the current foreign exchange market is largely balanced and the yuan could move in either direction in the future. They reiterated no change to the country’s currency policy, which is a managed floating exchange rate system based on market supply and demand, with reference to a basket of currencies.
The currency policy is “suitable for China’s national conditions and should be adhered to in the long run,” the statement said. Continue reading “Article: Chinese regulators vow to crack down on yuan exchange manipulation”
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