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Beijing (Reuters) - There is no basis for long-term depreciation of the Chinese currency, the country's FX trading platform operator said on Monday.
The yuan will be basically stable versus a basket of currencies in the medium- to long-term, the China Foreign Exchange Trade System (CFETS) said on its website.
Earlier on Monday, the onshore yuan sank to a six-year low after the central bank dropped the official midpoint to weaker than 6.70 to the dollar.
Reporting by Beijing Monitoring Desk; Editing by Richard Borsuk