We will keep the renminbi exchange rate basically stable at an appropriate, balanced level, expand its floating range, and move toward renminbi convertibility under capital accounts.

保持人民币汇率在合理均衡水平上的基本稳定，扩大汇率双向浮动区间，推进人民币资本项目可兑换。

youdao

China seems in no hurry to move towards full convertibility of the yuan and greater exchange-rate flexibility.

中国似乎并不急于朝全面的人民币可兑换和更灵活的汇率机制靠拢。

youdao

RMB Internationalization is dependent on China's economic strength, the convertibility of RMB, and RMB exchange rate formation mechanism.

人民币国际化，取决于我国经济实力，取决于人民币可兑换，取决于人民币汇率形成机制。

youdao

Chen told reporters the move to improve convertibility would not drive down the exchange rate for the renminbi, hurt China's balance of payments or add to inflationary pressures.

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Once the actual value of expatriated dollars actually exceeded US gold reserves, Richard Nixon simply ended the convertibility of dollars into gold for international exchange purposes.

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Something similar happened in Argentina after it adopted its convertibility plan: people started to believe that biting the bullet of a permanently fixed exchange rate was enough, on its own, to cure the economy's problems.

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