Renminbi rate near 'equilibrium'
By Wei Tian | China Daily | Updated: 2012-03-29 07:49
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Trade statistics and the slowing growth of China's foreign exchange reserves suggest that there is no more "undervaluation" of the Chinese currency, according to a report by the Bank of China on Wednesday. Meng Zhongde / For China Daily |
The renminbi's exchange rate is nearing "equilibrium", a central bank researcher said on Wednesday, suggesting that the currency would be more likely to experience two-way fluctuation instead of the unilateral appreciation of previous years.
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