Dai Xianglong, former Governor of the Central Bank: there is a sufficient basis for the Stability of RMB Exchange rate-Shanghai Metals Market

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Dai Xianglong, former Governor of the Central Bank: there is a sufficient basis for the Stability of RMB Exchange rate

Translation 12:34:25PM May 31, 2019 Source:The country is a through train

SMM News: former central bank governor Dai Xianglong said in Beijing on the 31st that China's RMB exchange rate stability has a sufficient foundation, first, China's stable economic growth, second, currency stability, and third, there are sufficient foreign exchange reserves. At the same time, the stability of RMB exchange rate is also guaranteed by market mechanism. China has formed a managed floating exchange rate regime based on market supply and demand, with reference to a basket of currencies, and the daily floating rate of the dollar against the RMB has increased to 2%.

Key Words:  RMB  exchange rate  economy  foreign reserves 

Dai Xianglong, former Governor of the Central Bank: there is a sufficient basis for the Stability of RMB Exchange rate

Translation 12:34:25PM May 31, 2019 Source:The country is a through train

SMM News: former central bank governor Dai Xianglong said in Beijing on the 31st that China's RMB exchange rate stability has a sufficient foundation, first, China's stable economic growth, second, currency stability, and third, there are sufficient foreign exchange reserves. At the same time, the stability of RMB exchange rate is also guaranteed by market mechanism. China has formed a managed floating exchange rate regime based on market supply and demand, with reference to a basket of currencies, and the daily floating rate of the dollar against the RMB has increased to 2%.

Key Words:  RMB  exchange rate  economy  foreign reserves