BEIJING: China expanded efforts to steady the currency markets, with the central bank adding verbal support to the exchange rate after a week that saw it slip past a key level against the US dollar.
The People’s Bank of China (PBoC) would work hard to keep the yuan stable against a basket of currencies, deputy governor Chen Yulu said at a conference in Beijing yesterday, adding that the authority would improve the policy framework for the yuan’s offshore market and cross-border services.
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