Yuan Breaks Four-Day Advance as Leaders Shy Away From Specifics
- Traders ignore PBOC fixing set at highest in two months
- China's currency reserves moderated in February: PBOC
Inside China's Economic Blueprint
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The yuan snapped a four-day run of gains after China’s leaders refrained from announcing specific support measures at their biggest gathering of the year.
The nation will push ahead with efforts to make the yuan more convertible and promote its use overseas over the next five years, according to a development plan released at the National People’s Congress on Saturday. The currency will remain stable against a basket of exchange rates, People’s Bank of China Deputy Governor Yi Gang said on Sunday, using a line that has been repeated by several officials over the past few months.