File pic: A bank employee counts US dollar banknotes next to stacks of 100-yuan notes at a bank outlet in Hai’an.
YICHUN, China/ SHANGHAI: Volatility in China's yuan since August is a normal market reaction to escalating trade frictions stoked by the United States and was caused, to some extent, by Washington's decision to raise tariffs, a senior Chinese central bank official said.
Zhu Jun, director-general of the People's Bank of China's international department, made the comments on Saturday to a forum held in the northern Chinese province of Heilongjiang.
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