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Last Updated : Aug 13, 2019 01:46 PM IST | Source: Reuters

Yuan at right level, disorderly capital flows unlikely: China's central bank official

China is confident that the yuan will be a "strong currency" over the medium and long term, Zhu Jun said.

China's yuan is at an appropriate level currently and its fluctuations will not necessarily cause disorderly capital flows, a senior official at the People's Bank of China told Reuters on August 13.

China is able to "navigate all scenarios" arising from Washington's recent move to label Beijing a currency manipulator, Zhu Jun, head of the central bank's international department, said in a text interview with Reuters.

She said China was "shocked" by the US Treasury Department's move last week to label China a currency manipulator, hours after China let the yuan drop through a key support level to its lowest point in more than a decade.

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China is confident that the yuan will be a "strong currency" over the medium and long term, Zhu said.

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First Published on Aug 13, 2019 01:35 pm
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