China to keep yuan exchange rate basically stable: central bank

BEIJING, Nov. 22 (Xinhua) -- China will keep the exchange rate of the yuan basically stable at an adaptive and balanced level, a central bank official said Friday.

The People's Bank of China (PBOC) will prevent the building of one-sided collective expectations and self-fulfilling in the foreign exchange market, and forestall exchange rate overshooting risks, PBOC official Liu Ye told a press conference.

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