China central bank criticizes media for publishing 'inaccurate information' on yuan rate

A clerk of ICBC bank counts Chinese one hundred Yuan Banknotes as she poses for camera during a photo opportunity at its branch in Beijing, China, April 13, 2016. REUTERS/Kim Kyung-Hoon/File Photo

BEIJING (Reuters) - China’s central bank criticized the media on Thursday, saying some media continuously publish “inaccurate information” on the yuan foreign exchange rate, which help some “speculative forces” short the yuan.

Recent media reports on the yuan interrupt normal operation of the foreign exchange market, the People’s Bank of China said in a notice on its website, adding that China does not intend to compete in international trade by depreciating the yuan.

Citing sources, Reuters earlier on Thursday reported that China’s central bank is willing to let the yuan fall to 6.8 per dollar in 2016 to support the economy.

The central bank said the yuan has been relatively stable against a basket of currencies.

Reporting by Beijing monitoring desk; Editing by Shri Navaratnam