Chinese premier says RMB exchange rate to stay basically stable

Updated: 2016-09-20 10:46


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NEW YORK -- The exchange rate of Chinese currency RMB will stay basically stable at a reasonable and balanced level, Chinese Premier Li Keqiang said here on Monday.

There is no basis for a sustained devaluation of RMB, Li said as he met with US President Barack Obama, adding that the Chinese economy has shown a steady upward trend and has huge room for maneuver.