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China's yuan exchange rate to be stable this year - governor
March 10, 2017 / 3:03 AM / 8 months ago

China's yuan exchange rate to be stable this year - governor

BEIJING, March 10 (Reuters) - China’s central bank chief said on Friday he expects the yuan exchange rate to be stable this year.

People’s Bank of China Governor Zhou Xiaochuan added that exchange rate fluctuations are normal.

Zhou made the comments at a news conference on the sidelines of China’s annual parliament session in Beijing.

China has tightened rules on moving capital outside the country in recent months as it seeks to support the yuan currency and stem a slide in reserves.

It burned through nearly $320 billion of reserves last year but the yuan still fell 6.5 percent against the surging dollar, its biggest annual drop since 1994.

Reporting by Kevin Yao; Editing by Kim Coghill

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