Bloomberg News

China PBOC Says Yuan ‘Reasonable,’ to Maintain ‘Gradual Reform’

October 11, 2011

Oct. 12 (Bloomberg) -- The People’s Bank of China said that the yuan exchange rate was at a “reasonable level” and it would continue its “gradual” reform of the currency.

The central bank refuted suggestions by the U.S. that it manipulates the exchange rate for its currency, according to a statement posted on its website today.

To contact the editor responsible for this story: Gregory Turk at gturk2@bloomberg.net


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