07.05.2014 - Chinese currency official defends yuan depreciation, forecasts volatility

The division head at China's State Administration of Foreign Exchange (SAFE) said on Tuesday the current weakness of the Chinese currency is acceptable and he predicted more volatility going forward. Guan Tao, head of the international payments division at SAFE, wrote in the official Shanghai Securities News on Tuesday that the yuan's dramatic slide in 2014 was rational, given the performance of other emerging market currencies...............................................Full Article: Source

Print