BEIJING (ANN): The International Monetary Fund (IMF) released a report on Friday in Washington showing the yuan was broadly stable against the basket of currencies despite the yuan/dollar depreciation.
"Despite the RMB/USD depreciation, the RMB was broadly stable against the basket and depreciated in real effective terms by about 2½ percent since the last Article IV. Estimates suggest little FX intervention by the PBOC (The People's Bank of China), " the report said.
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