BEIJING: China will keep the yuan's exchange rate basically stable in 2015, the official Xinhua news agency said on Thursday, citing the foreign exchange regulator.
The State Administration of Foreign Exchange (SAFE) also acknowledged continuing signs of weakness in the exchange rate between the yuan and US dollar since the beginning of 2015, said Xinhua.
The comments were made by Guan Tao, head of the department of international payments at SAFE, according to Xinhua.
Last week, SAFE said it expected China's cross-border capital flows to remain volatile this year after outflows accelerated in the fourth quarter of 2014.
China's capital and financial account recorded a deficit of $91.2 billion in the last three months of the year, up from $9 billion in the third quarter, as local residents and firms increasingly switch to US-dollar assets.
Some analysts are worried that intensifying capital outflows have tightened liquidity conditions, threatening to brake the already slowing economy, and could prompt the central bank to loosen monetary policy further.
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