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China won't see 'excessive' yuan falls - central bank adviser

Published 10/09/2015, 12:14
Updated 10/09/2015, 12:18
© Reuters. A customer counts Chinese Yuan notes at a market in Beijing

DALIAN, China (Reuters) - China will not see "excessive" depreciation in its yuan currency as long as the government is able to stabilise economic growth, a central bank policy adviser said on Thursday.

"There will be no excessive (yuan) depreciation. The most important thing is to stabilise the economy," Huang Yiping, a member of the central bank's monetary policy committee, told the World Economic Forum in Dalian in northeastern China.

© Reuters. A customer counts Chinese Yuan notes at a market in Beijing

The government is still struggling to stabilise the yuan after its surprise devaluation of the currency on Aug. 11 and halt a stock market rout that has seen the country's share indexes plunge 40 percent since mid-June.

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