中国人民银行：人民币进一步贬值没有依据
People's Bank of China governor Zhou Xiaochuan says the Chinese yuan has no basis for further depreciation.
中国人民银行行长周小川表示，人民币进一步贬值是没有依据的。
The central banks chief was interviewed by Caixin magazine and blamed foreign speculators in part for volatility in the yuan.
He said China would keep the yuan basically stable versus a basket of currencies while allowing greater volatility against the U.S. dollar.
In addition, Zhou Xiaochuan suggested that speculators should not be allowed to dominate market sentiment regarding China's foreign exchange reserves and it was quite normal for reserves to fall and rise.
China's foreign reserves fell for a third straight month in January, as the central bank dumped dollars to defend the yuan and prevent an increase in capital outflows.
Zhou said he believes yuan exchange reform will help the market be more flexible in dealing with speculative forces.