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China Commerce Minister:Yuan's small depreciation normal given strong USD |
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08:20, December 05, 2008 |
The recent depreciation of Chinese currency versus the U.S. dollar was normal and China won't rely on a weaker yuan to boost exports, Chinese Commerce Minister Chen Deming said on Thursday.
"The recent small fluctuation of the yuan against the dollar was completely normal. I'd call it the dollar strengthening, rather than the yuan depreciating," Chen told a press conference of the fifth China-U.S. strategic economic dialogue (SED).
Source:Xinhua
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