China Vows to Prevent Yuan's Exchange Rate From ‘Overshooting' [Yahoo! Finance]
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Source: Yahoo! Finance
The People's Bank of China said while it will maintain the exchange rate's flexibility, it will strengthen efforts to guide expectations and guard against “overshooting risks” for the currency, according to its 2025 financial stability report released on Friday. The central bank also reiterated a pledge to keep the yuan basically stable on a reasonable equilibrium. Most Read from Bloomberg New York's Congestion Pricing Is Working. Five Charts Show How London's Love of Wood-Burning Stoves Sparks a Pollution Debate As Zipcar Leaves London, Car-Share Boosters Are Looking for a New Ride When It Comes to US Transportation, 2025 Had Some Wins, Too The relatively strong language followed the PBOC's move earlier in the day to place the yuan's daily reference rate at a level that was below market estimates by a record margin. It set the yuan's so-called fixing at 7.0358 per dollar, 301 pips weaker than the average estimate of traders and analysts in a Bloomberg survey. The gap b
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- China Vows to Prevent Yuan's Exchange Rate From ‘Overshooting' [Yahoo! Finance Canada]Yahoo! Finance Canada
- China Sets Yuan Fixing Far Below Forecast to Slow Currency Gains [Yahoo! Finance]Yahoo! Finance
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