‘No foundation’ for continued yuan fall

SHANGHAI: China’s central bank chief has blamed foreign speculators in part for volatility in the yuan and said there is no basis for further depreciation, according to an interview in Caixin magazine.

The Chinese economy grew 6.9 percent in 2015—the slowest rate since 1990—and capital has been flowing out of the country because of worries over flagging growth, causing the currency to weaken.