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People's Bank of China lowers yuan rate to minimum of October 2010

July 18, 2016, 9:43 UTC+3 BEIJING

Earlier, China’s State Council stated the need to maintain the exchange rate stability

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BEIJING, July 18. /TASS/. People's Bank of China has lowered the rate of the national currency RNB (official name of the yuan) against the dollar by 0.23% to 6.6961 per dollar, which is the new minimal rate since October 2010.

Earlier, China’s State Council and the People's Bank of China stated the need to maintain the stability of the RMB exchange rate, keeping it at a "reasonable and balanced" level.

Premier of the State Council of China Li Keqiang said at the economic forum "The Annual Meeting Of The New Champions - 2016 in Tianjin that there are no grounds for the long-term devaluation of the RMB.

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