China central bank takes heat off yuan


  • Business Premium
  • Wednesday, 08 Jan 2003

SINGAPORE: China’s central bank reined in a fresh bout of speculation on a possible appreciation of the yuan yesterday, although analysts expect the let-up to be brief. 

Offshore forwards in the US dollar-yuan segment came off Monday’s record lows after China’s newly appointed central bank governor Zhou Xiaochuan was quoted as saying monetary policy would be kept stable this year. 

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