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CHINESE CURRENCY THE YUAN TO REMAIN STABLE.
BEIJING, Jan 1 Asia Pulse - The Chinese government has called for stabilizing the Renminbi (RMB) exchange rate at a reasonable and balanced level, said Zhang Bin, associate research fellow of the World Economy Institution under the Chinese Academy of Social Sciences (CASS).
Because RMB exchange rate is pegged to the U.S. dollar, it has registered appreciation against major currencies on the bullish performance of U.S. dollar, Zhang explained.
The central parity rate of yuan against British pound came to 9.8951 Tuesday, breaking the 10-yuan mark for the first time.
Yuan has appreciated ...
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