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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.”

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.


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