Yuan has condition to stay stable in long run – China CFETS

FXStreet (Mumbai) - The China Foreign Exchange Trade System & National Interbank Funding Center (CFETS), a sub-institutional organization of People's Bank of China (PBOC), defended the recent depreciation in the Chinese yuan earlier today, with the following headlines as under:

Market should not solely focus on usd/yuan exchange
rate, should take basket of other currencies into consideration
Yuan already has its correction against basket

In reference to basket doesn't mean peg to basket

Renminbi has "conditions" to keep basically stable in the medium to long term