China’s central bank plans to counter large currency fluctuations. The lending institution will take steps to keep the yuan essentially stable, the People’s Bank of China (PBOC) announced. It also said the yuan does not necessarily become weaker against the dollar when the index, which measures the performance of the US currency against a basket of currencies, rises. In recent years, there have been cases where the dollar appreciated but the yuan was stronger, the PBOC statement said.
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