April 18, 2017 / 10:52 AM / 4 months ago

China's premier says market confidence in yuan has significantly improved

BEIJING, April 18 (Reuters) - China's Premier Li Keqiang said on Tuesday that market confidence in the yuan currency has significantly improved, Xinhua news agency reported.

Li also reiterated that China will keep yuan basically stable at a reasonable, balanced level, Xinhua said in a post on weibo, the country's equivalent of social network Twitter.

The yuan has stabilised this year due to capital outflow curbs and a reversal in the dollar's rally, after falling 6.5 percent in 2016 - the biggest annual drop since 1994.

Reporting by China monitoring desk and Kevin Yao; Editing by Kim Coghill

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