Today we have some excerpts from the man who manages one of the world's most important currencies, Zhou Xiaochuan, governor of the People's Bank of China.It's been a while since we heard from the governor,and his interview with Caixin comes at a time when weakening exchange rate and turmoil in Chinese markets have sent jitters throughout global markets.Since last August, the central bank has sought to prop up the nation's currency by selling more foreign exchanges and tightening capital control in some areas.And so naturally, all eyes have been on the central bank's next moves,with concerns that China's foreign reserves will keep falling and that the yuan will continue to depreciate.In January alone, $110 billion flowed out of the country,with total reserves falling to their lowest level in almost four years.Zhou dismissed concerns about dwindling forex reserves,saying that there was a need to distinguish capital outflows from capital flight."China's foreign exchange reserves are more than enough for international payments as capital flows in and out,the foreign exchange reserves may decline now and increase later.As long as there's no problem in the economic fundamentals, rises and falls of reserves are perfectly normal", he said.In January, offshore yuan also experienced bouts of rapid deprecation partly due to speculative investors betting on the currency to get weaker.In response, the central bank has bought up off-shore yuan and tightened yuan supply in the offshore markets,
