PBOC Governor Yi: Yuan is stable

The People's Bank of China (PBOC) Governor Yi Gang was out on the wires soon before press time downplaying currency fears by stating that Yuan is stable. 

The Chinese currency is currently down 2.66% on a month-to-date basis against the US Dollar. The re-escalation of tit-for-tat trade between the US and China has taken a toll on Yuan. 

Yi Gang added further that the central bank is capaable of managing risks in small banks.