A vice governor of China’s central bank said the authorities have full confidence in yuan’s fundamentals and the nation’s capital outflows will slow down, reiterating recent rhetoric to soothe market concerns about the domestic currency.
Yi Gang said he believes the exchange rate will eventually reflect its fundamentals more, rather than market speculation.
“In this regard, we have patience,” Mr. Yi said in an interview with the official Xinhua News Agency, according to transcripts posted on the central bank’s website late Sunday.
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