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Yuan may be disturbed in short term, but will follow fundamentals in long run: central banker
March 5, 2017 / 1:32 AM / 7 months ago

Yuan may be disturbed in short term, but will follow fundamentals in long run: central banker

A 100 Yuan note is seen in this illustration picture in Beijing March 7, 2011. REUTERS/David Gray/File Photo

SHANGHAI (Reuters) - The exchange rate for China’s yuan currency will be “disturbed” by short term factors but will be determined by fundamentals over the long run, China’s deputy central bank governor Pan Gongsheng said on Sunday.

The country’s foreign exchange reserves were “ample” and the forex market would stabilize, he told reporters on the sidelines of China’s annual session of parliament.

Reporting by Sun Qize; Writing by John Ruwitch

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