PBOC promises effective steps for yuan stability

Central bank officials said on Thursday they were confident of keeping the yuan stable at a rational value, promising "effective management" to deal with any extreme volatility.

Yi Gang, deputy governor of the People's Bank of China and director of the State Administration of Foreign Exchange, said that "the exchange rate fluctuations have been within expectation."

"After a short run-in period, the market status will return to normal," he said.