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China’s Central Bank Tells Foreign Firms Yuan Won’t Keep Falling

  • Policy makers seek to reassure foreign firms after yuan slump
  • Currency falling beyond key level prompts manipulation charge
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PBOC Tells Foreign Firms Yuan Won’t Keep Weakening Significantly
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Senior People’s Bank of China officials reassured foreign companies that the currency won’t continue to weaken significantly, after the yuan fell below 7 per dollar for the first time since 2008.

The central bank held a meeting with a number of foreign exporters in Beijing Tuesday, at which officials also said that companies’ ability to buy and sell dollars would remain normal, according to a statement provided to Bloomberg. The PBOC didn’t name the officials or the companies that attended the meeting.