Diabytes
Yuan value News
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Dismissing US President Donald Trump's charge of China being a currency manipulator, Premier Li Keqiang today said Beijing has no intention of devaluing the yuan to boost exports, as it does no good for Chinese companies' transformation.
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The unpredictability in the foreign exchange market is due to uncertainties at home and abroad, Central Bank Governor Zhou Xiaochuan said, adding that fluctuations will be normal.
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The yuan firmed for a fourth straight day on Friday, posting its biggest weekly gain since April as China`s state-run banks were suspected of supporting the currency before Group of 20 finance officials meet this weekend in Chengdu.
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China weakened the yuan's fixing almost one percent to a five-and-half-year low against the dollar today, officials said, the biggest downward move since August as the greenback surge after Britain's vote to leave the European Union.
China`s yuan currency touched 6.4856 to the dollar on Thursday, its strongest level so far in 2016.
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