China’s Yi Warns on Currency Wars as Yuan in ‘Equilibrium’

The deputy governor of China’s central bank signaled he’s comfortable with the yuan’s exchange rate and urged Group of 20 nations to improve collaboration if so-called currency wars are to be avoided.

“Right now it is pretty much close to the equilibrium level,” Yi Gang said in an interview at the World Economic Forum’s annual meeting in Davos, Switzerland. On a global level, there needs to be “better communication and coordination” on foreign exchange among G-20 countries.