PBoC warns investors against renminbi speculation
Central bank seeks to shore up currency after the onshore yuan fell to its lowest against dollar since 2008
China’s central bank warned investors against betting on the yuan, after the currency hit its lowest level against the US dollar since 2008 this week.
“Do not bet on a one-sided appreciation or depreciation of the renminbi exchange rate,” the People’s Bank of China said in a statement late yesterday (September 28). “One who bets always ends up losing in the long run.”
A few firms have been speculating on the yuan, the PBoC said, and a small number of financial institutions have also violated
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