March 6, 2014 / 2:46 AM / in 4 years

China central bank vice gov: recent yuan exchange rate moves normal

BEIJING, March 6 (Reuters) - Recent movements in the exchange rate of China’s yuan are normal, central bank vice governor Pan Gongsheng said on Thursday, reiterating comments by other officials after recent sharp moves in the currency.

Pan also said reform of China’s exchange rate formation mechanism is an important part of the current financial reform, and the principle is to let the market play a bigger role and to increase flexibility of exchange rate.

He was speaking at a forum of the Chinese People’s Political Consultative Conference, a mainly ceremonial advisory body that meets in tandem with the annual parliament session. (Reporting by Xiaoyi Shao and Jonathan Standing; Editing by Paul Tait)

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