The yuan, its biggest daily profit since 2010 after China's call for cooperation instead of currency war

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September 10, 2015 14:26

Cairo - direct: could the Chinese yuan to rise in foreign dealings CNH against the dollar by more than 1%, to the level of 6.4008 against the US dollar.

Its biggest daily profit ever since China began to apply the exchange rate abroad in 2010.

It came after the establishment of the People's Bank of China PBoC to increase quotas or "net entry flows" in the yuan under the assembly on a large scale system.

China has called for cooperation instead of a currency war, and ratified that the Chinese prime minister, "Li Keqiang" at the World Economic Forum in Dalian, northeast China, on Thursday, where he said that his country will never start currency war, and that States should instead strengthen economic cooperation because the global economy is still weak.

He added "me" that States should not rely on quantitative easing to address global economic problems, and that China will keep the yuan "basically stable at a reasonable and balanced level."

The Chinese government is still struggling to stabilize the yuan after the sudden reduction in its value in the past 11 August, and stop the decline in the Chinese stock market, which amounted to 40% since mid-June.


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