Pan Gongsheng, Head of China’s State Administration Of Foreign Exchange (SAFE) – PBOC’s foreign exchange regulatory agency, commented on the offshore yuan markets today, as reported by the Securities Times.
Key Quotes:
The Chinese government will not play a dominant role in the offshore yuan market
The development of the offshore yuan market will mainly rely on market forces
PBOC will create an accommodative environment for that market
(Market News Provided by FXstreet)
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