Purchasing power parity (PPP) is a basic exchange rate determinant theory. However, due to the numerous short and long term factors that affect PPP, the real exchange rates frequently deviate from it.

购买力平价说是一种基本的汇率决定理论，但影响购买力平价关系成立的短期或长期经济因素众多，从而使得实际汇率经常偏离平价关系。

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A commentary in a central bank-owned newspaper on Thursday said that maintaining the "basic stability" of the exchange rate was "advantageous."

一家央行直属的报纸在周四的报刊中评论道，保持人民币汇率的“基本稳定”是一种“优势”。

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The key for future RMB exchange rate stability is the basic balance of capital flows.

未来人民币汇率稳定的关键是资本流动基本平衡。

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"The monetary board has no plans of changing the basic exchange-rate policy, " Singson insisted July 9, the day the stock market fell 4.1% because of worries about the central bank's ability to fight speculators.

CNN: BATTLE OVER ASIA'S MONEY

Globalisation has not altered the basic limits: monetary policy can be used to regulate the domestic economy or to regulate the exchange rate, but it cannot successfully accomplish both goals at once.

ECONOMIST: Bearing the weight of the market | The