BEIJING (Sputnik) – On Thursday, the yuan-dollar rate was 6.9307, while on Friday morning the yuan stood at 6.8668 against the dollar.
At the end of last month, the People's Bank of China said it would continue down the path of a moderate monetary policy in 2017 to keep the national currency stable.
China's economy has recently experienced significant turmoil, with growth rates at record lows, an increasingly volatile stock market and the yuan sliding against other currencies.
In January, China reported its 2015 GDP increase to be the lowest in over 20 years, while its exports fell by 2.8 percent and imports decreased by 14.1 percent. In late April, the State Council of China announced a number of measures to support foreign trade, including the extension of export credit insurance and increase in tax refunds to exporters.
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