PBoC Confirms Yuan Will Devalue to At Least 6.8 This Year

Xinhua: China won't devaluate yuan, long-term fall unlikely: PBOC
China has no intention of devaluating the yuan to gain an advantage in global trade and there is no basis for long-term depreciation, the central bank said Thursday.

..."The reports misled expectations and disrupted the market, encouraging speculative selling. We strongly condemn the behavior, which is irresponsible and against professional ethics," the PBOC said.

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