Chinese Economic Planner Refutes Rumor of yuan Depreciation
[2009-02-18 13:59:15]
The National Development and Reform Commission (NDRC) said in a statement Wednesday that the report of its officials' estimating the depreciation of yuan to 7 against the U.S. dollar was "totally fabricated".
China Briefing News on Tuesday quoted NDRC vice chairman Zhang Xiaoqiang as saying that the RMB could weaken to around 6.9 to 7 against the U.S. dollar.
The website of the China Briefing News has released a correction.
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