PBOC Will Tolerate Yuan Fall To 6.8 Per Dollar This Year: Reuters
The People's Bank of China is willing to allow the yuan to fall to 6.8 per U.S dollar in 2016, Reuters reported Thursday, citing policy sources. The Chinese currency is already at its lowest against the dollar in more than five years, and a further decline to the 6.8 level would represent a drop of 4.5%. With the policy stance, China's central bank is aiming to help the country's economy, which has been hit by weak exports and economic growth, the report said.
Copyright © 2016 MarketWatch, Inc.