China’s SAFE: Current yuan exchange rate within a reasonable and balanced range
|“Current yuan exchange rate is within a reasonable and balanced range,” the State Administration of Foreign Exchange (SAFE), China’s fx regulator, said in a statement on Friday.
Further comments
“Changes in international markets could lead to more fluctuations in China's foreign exchange market.”
“Will step up monitoring on cross border capital flows and risk assessment.”
“Will prevent abnormal cross-border flows this year.”
“China’s banks boosted 158bn USD in FX for 2020.”
“Q4 current account surplus expected to be close to Q3 level.”
Market reaction
USD/CNY tracks the bounce in the US dollar against its major peers, now trading at 6.4680, up 0.14% on the day.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.