FOREX | PBOC Official Says RMB Volatility Has Increased in Recent Years

China's State Administration of Foreign Exchange Deputy Director Li Bin said at a State Council Information Office news conference that exchange rates are determined by market supply and demand and are difficult to predict. According to Jin10, he said the RMB's two-way fluctuations have strengthened in recent years, making it more important for companies to uphold a neutral foreign exchange risk mindset, take proactive steps to manage currency risk, and reduce the impact of exchange-rate swings on core operations and financial performance as much as possible. The foreign exchange regulator has worked with relevant departments and financial institutions to keep promoting the neutral foreign exchange risk concept, guide companies to focus on changes in the market environment, improve hedging awareness, and strengthen independent decision-making.