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China reiterates no one-off moves in RMB exchange rate reform

06-20-2010 16:52 BJT

BEIJING, June 20 (Xinhua) -- A spokesman with the People's Bank of China (PBOC) said Sunday the central bank will not conduct a one-off revaluation and adjustment on the RBM (yuan) exchange rate.

The PBOC said it will keep the yuan basically stable at a reasonable and balanced level, and manage and adjust the RMB exchange rate based on the floating bands previously announced in the interbank foreign exchange market, in a bid to promote China's international payment balance and safeguard the stability of the nation's macro economy and financial market, the spokesman said in a statement to Xinhua.

The statement came one day the PBOC announced it would further promote the reform of the RMB (yuan) exchange rate regime, and increase the flexibility of the RMB exchange rate.



Editor:Zhang Pengfei |Source: Xinhua

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